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Home My WebLink About1993/03/16-CCM RM � � O Schelen Mayeron& � � Associates,Inc. 300 Park Place Center 5775 Wayzata Boulevard Minneapolis,MN 55416-1228 � Janua 15, 1993 6iz-s9s-5�z5 ry 1-800-753-5775 FAX 595-5773 � Engineers Architects Planners Surveyors Honorable Mayor and Council � City of Rosemount 2875 145th Street West Rosemount, MN SS068 � Re: 145th West from Shannon Parkway to Cameo Avenue and Chile Avenue Reconstruction ,� City of Rosemount City Project No. 235 OSM Project No. 4438.60 � Dear Mayor and Council: ;� Enclosed is the Feasibility Report for 145th Street West and Chile Avenue Reconstruction. This report address the sanitary sewer, watermain, storm drain, street, � sidewalks/trails, and street lighting necessary for the area. We would be happy to discuss this report with you at your convenience. Please call me � at 595-5694 if you have any questions. Sincerely, � ` ORR-SGHELEN-MAYERON & ASSOCIATES, INC. � �K �j�i�tr''"'" ' ,Yp��'rL" � Brian J. Bour sa, F.E. Project Engineer � jme Enclosure � c: Bud smundson Rosemouni Ci En in O , ry g eer � � � Equal Oppor[unity Employer � ' CERTIFICATION SHEET � � � I hereby certify that this plan, specification or report was � prepared by me or under my direct supervision, and that I am a duly Registered Professionat Engineer under the laws of the State of Minnesota. � � �-�t� � Brian . Bourassa, P.E. � Date: January 10, 1993 Reg. No. 21816 � - � � � � � � � � � OSM Project No. 4438.60 Page i � r TABLE OF CONTENTS � TITLE SHEET � LETTER OF TRANSMITTAL CERTIFICATION SHEET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . : , i � TABLE OF CON'I'ENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ii � EXECU'I'IVE SUMMARY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 � Authorization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Data Available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 , GENERAL BACKGROUND . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Project Location . . . . . . . . . . , . . . . . . . . . . . . . . . . . . , 4 �; Project Zoning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Project History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Existing Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , , 5 � Roadway . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Sanitary Sewer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Watermain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 � Storm Drain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Trail/Walkway . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Traffic Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 � PROPOSED IMPROVEMENTS . . . . . . . . . . . . . . . . . . . . . . . . 10 � Roadway . . . . . . . . . . . . . . . . . . . . . ' . . . . . , . . . . . . . . . . . . . . . 1� Sanitary Sewer . . . . . . . . . . . . 12 Watermain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I2 � Storm Drain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Trail/Walkway . . . . . . . . . . . . . . . . . . 14 Street Lights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 � Overhead Utilities . • . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Electric Utility . . . . . . . , . . . , 15 Telephone Utility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 � Cable T.V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Right-of-way and Easements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Permits/Approvals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Q � Detour Route . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 � � OSM Project No. 4438.60 Page ii � � FINANCiNG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 � Cost Estimate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Cost Recovery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 SanitarySewer , . . . . . . . . . . . . . . . . : . . . . . . . . . . . . . . . 26 � Watermain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Storm Drain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Street . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 � Sidewatk/Trai1 . . . . . . . . . . . . . . . . . . , . . . . . . . . . 2? Elssessments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 � APPENDIX Drawing No. 1 - Project Location Map � Drawing No.2 - Drainage District Map Drawing No. 3 - Average Daily Traffic Map Drawing Na 4, 5, 6, ?, - Sanitary Sewer, Watermain, Storm Drain, Street, � Sidewalk/Trails and Street Lights Drawing No. 8 - Chippendale/Chile Avenue Intersection Realignrnent � � � , � � � ' � � , OSM Project No. 4438.60 Page iu , � � 1 EXECUTIVE SUMMARY � - City Project Na 235 provides for the reconstruction of 145th Street VVest from � Shannon Parkwa to Cameo Avenue 09 miles and Chile Avenue from 145th Y � ) � Street to the south boundary of Independent School District No. 195 (0.2 miles) and for the realignment of the Chippendale/Chile Avenue intersection. The � , proposed roadway section for 145th Street is a �0 wide road (2 driving lanes) � with parking allowed on one side. This roadway section meets Mn/DOT State Aid Standards. � ' Approximately 2000' of 8" sanitary sewer construction, 2100' of 12° watermain � construction, 2000' of 12" to 21" storm drain construction and 78(�' of trail construction are also included in City Project No. 235. The project is feasible ' from an engineering standpoint. We recommend completion of this project as � outlined in this feasibility report. ' T'he estimated total ro'ect cost for 145th Street West im rovement is 1254 4(� P J P $ s � � (this cost includes the Chippendale/Chile Avenue realignment and the Chile Avenue reconstruction. Funding sources for the project include special � assessments, Mn/DOT State Aid Funds and Ci Core Funds. �' � ' � OSM Project No. 4438.60 Page 1 � . i The project can be completed under a single phase with construction beginning � in June, 1993 with substantial compietion in September, 1993. � 2 INTRODUCTION ! � 2.1 Authorization - On June 2, 1992 the Rosemount City Council authorized the preparation of an Engineering Feasibility Report for 145th Street from ' h nn n P kw m Avenue and the Chile Avenue S a o ar ay to Ca eo � Reconstruction. This project has been designated as City Project No. 235. � 2.2 Scope - This project provides for the reconstruction of 145th Street from , Shannon Parkway to Cameo Avenue and for Chile Avenue from 1�Sth � Street to the Independent School District No. 196 south boundary. The project also includes the realign.ment of the Chippendale/Chile Avenues , at the 145th Street intersection. � The sanitary sewer system on 145th Street West was televised to review , the line condition in Februa 1990. The television ins ection revealed rY, P � that the pipe has failed in some areas and is in poor condition in other areas along the praject route. It is proposed to replace the entire length ' � of sanitary sewer along the project(approximately 2000 feet) as part of the � 145th Street Reconstruction project. � � OSM Project No. 4438.60 Page 2 � ' A 12" trunk watermain is proposed to be installed between Cameo and ' Chi endale Avenues. This 12" trunk line will re lace the existing 6" line PP P � and will meet the requirements outlined in the City of Rosemount Comprehensive Water System Pian. ' � A storm drain system is also proposed to be installed along 145th Street to facilitate street drainage. ' � 2.3 Data Available- Information and materials used in the preparation of this report include the following: ' � • City of Rosemount Record Plans • City of Rosemount Comprehensive Water System Plan, 1988 � • City of Rosemount Drainage Plan, West Drainage Area, May 1989 , • Feasibiiity Report on 145th Street Intersections at Chippendale � Avenue and Chili Avenue, City Project No. 179, February, 1988. • City of Rosemount Topography Maps ' • Closed Circuit Television Inspection Report, February, 1990. � ,� ' � � � OSM Project Na 4438.60 Page 3 � ' 3 GENERAL BACKGROUND � � 3.1 Project Location - The project is located on 145th Street from Shannon Parkway to Cameo Avenue and on Chile Avenue from 145th Street to the � Inde endent School District No. 196 south bounda . All of the ro c}sed P rY P Pt S ' improvements will take place within the existing road right-of-way for 14Sth Street and Chile Avenue except for the proposed realignrnent of the ' Chi endale and Chile Avenues at the intersection with 145th Street: 'I'he PP ' entire project is located within Sections 29 and 30. The project location is shown on Drawing No. 1 in the appendix of this report. , ' 3.2 Project Zoning - Generally the project area is zoned singte family and multiple family residential. However, the south side of 145th Street ' between Chippendale and Cimarron Avenues is zoned convenience ' commercial. ' 3.3 Project History - Prior to October, 1975, 145th Street was known as Ash ' Street. The len th of roadwa between State Highway 3 (previously State g Y � Trunk Highway No.218) and the Dodd Boulevard intersection was Dakota County Highway No. 42. (Dodd Boulevard also was a part of County ' Road 42). This ortion was reconstructed b the County in 1956 and had P Y � a 1-1/2" bituminous overlay installed in 1968. ' � OSM Project No. 4438.60 Page 4 ' ` ' The length of roadway between the Dadd Boulevard intersection and the , west ed e of Rosemount was designated as County Road No. 33. This g � length of roadway was built to a rural seetion in 1962 and the length of roadway west of Shannon Parkway was built to an urban seetion in 1992 , as art of Ci Pro'ect No. 206. P tY J ' These roadways were revoked as County State Aid Highways as of ' October 21 1975. The then became the res onsibili of the ei of , Y P tY t}' ' Rosemount. Numerous bituminous patches have been installed as required since 1975. ' � A Feasibility Report which recommended a new alignment fflr the Chippendale/Chile Avenues and 145th Street intersection (City Project ' No. 179) was presented to the City Council in April, 1988. The Council , accepted the report, but did not take any further action at that tirne. � 3.4 Existing Canditions - ' , � 3.4.1 Roadway: From Shannon Parkway to Chipgendale Avenue the existing roadway is a 24' wide bituminous rural section and from ' Chi endale Avenue to Cameo Avenue the existing roadway is a PP , 40' wide urban section with concrete curb and gutter. The existing � ' OSM Project No. 4438.60 Page 5 ' ' Chile Avenue roadway is a 32' wide urban section with conerete ' curb and tter on the east side and a bituminous curb on the west � � side. � �4 h � There are a number of driveways which access St St eet, ' especially between Cameo and Chile Avenues. Ali of these will be reconstrueted to the right-of:way line. ' , C�rrently no parking is allowed on 145th Street between Shannon Parkway and Chippendale Avenue while parking is allowed on both . ' sides of 145th Street from Chile Avenue to Cameo Avenue. � The 145th Street intersection with Chile and Chippendale Avenues ' was investigated in detail in the April, 1988 Feasibility Report as ' part of City Project No. 179. ' 3.4.2 Sanitary Sewer: There is an existing $" sanitary sewer in the south ' boulevard area on145th Street from Cimarron Avenue to Shannon � Parkway and along the centerline of 145th Street from Chippendale Avenue to Cameo Avenue. As stated in Section 1.2 of this report ' a television ins ection of the sanita sewer lines in this area P rY 1 revealed that the pipe is in poor condition along the project route. � ' OSM Project No. 4438.60 Page 6 , � ' The existing sanitary sewer lines are shown an Drawing Nos: 4 ' throu h 7 in the A endix of this re ort. g PP P � 3.4.3 Watermain: There is an existing 12"and an existing 16"watermain ' alon 145th Street from Shannon Parkwa to Chi endale Avenue g Y PP ' and an existing 6" watermain from Chippendale Avenue to Cameo Avenue. The existing watermain lines are shown on Drawing Nos: � 4 throu h 7 in the A endix af this re ort. g PP P ' 3.4.4 Storm Drain: The proposed project is located in four different , W ch er P n drainage distncts: Hawkins Pond, Schwarz Pond, a t o d , and Erickson Park as shown in Drawing No. 2 in the Appendix o£ this report. ' � Existing storm drain facilities are located at the Shannon Parkway, ' Chippendale/Chile Avenues and the Cameo Avenue intersectiQns. Drawing Nos. 4 through 7 located in the Appendix of this report , shows the existin storm drain facilities in the project area. g ' 3.4.5 'l�ail jWalkway: There are existing 8'wide bituminous and 5'wide ' concrete walks 'located alon the ro'ect route. The 8' wide g P J ' bituminous walkway is located on the south side of 145th Street ' ' OSM Project No. 4438.60 Page 7 ' ' between Shannon Parkway and Chippendaie Avenue. The 5'wide ' concrete walk is located on both sides of 145th Street from ' Chippendale Avenue to Cameo Avenue. There is an existing bituminous trail located on the west side of Chile Avenue. ' ' 3.5 Traffic Analysis - A traffic analysis was conducted in the 145th Street project area and a letter report was submitted to the City Engineer on ' A ril 16 1992 and was reviewed at the Ci Council Meetin an A ri121, P , tY � P � 1992. The purpose of the analysis was to determine the road section required for the 145th Street reconstruction as part of City Project Na , 206. A co of the avera e dail traffic ma from the letter are included PY g Y P � in the Appendix of this report (Drawing No. 3). � The results of the capacity analysis indicate that the e�sting two lane ' facility operates at satisfactory levels of service. In the future the amount of traffic on 14�th Street is expected to increase. However, when ' Conemara Trail is connected to State Trunk Highway 3 it will reduce the , traffic demand on 145th Street. It was determined, for City Project No. 206, that a 40' wide urban roadway section {2 driving lanes) would be ' constructed on 145th Street from Diamond Path to Shannon Parkway with ' parking allowed on one side of the street. ' ' ` OSM Project No. 4438.60 ' Page 8 , ' ' In 1990 the Mn/DOT Office of State Aid denied a variance request from , the Ci of Rosemount to allow arkin on both sides of 145th Street from tY P g � Chippendale Avenue to Cameo Avenue. ' ' ' , , ' ' ' � , � ' , ' ' OSM Project No. 4438.60 Page 9 � ' 4 PROPOSED IMPROVEMENTS ,_ � 4.1 Roadway - For City Project No. 235, it is proposed to continue the 40' ' wide urban roadway section (2 driving lanes) from Shannon Parkway to ' Cameo Avenue (0.9 miles) with parking allowed on one side. The ' proposed street section will consist of approximately 4 1/2" of bituminous surface and 8" of Class 5 gravel and will be flanked on both sides with ' B618 concrete curb and tter. The ro osed roadwa will be lowered � P P Y ' appro�mately 2 to 3 feet from Shannon Parkway to the Chippendale/Chile Avenue intersection to facilitate drainage in the area. ' From the Chippendale/Chile Avenue intersection to Cameo Avenue the ' proposed roadway will be reconstructed approximately to its e�cisting location and elevation. ' � As shown on Drawing Nos. 4 through 7 in the Appendix of this report turn lanes will be canstructed at Shannon Parkway, Cameo Avenue and at the ' Chippendale/Chile Avenue intersection. The right turn lane on east ' bound 145th Street was extended to include the Super America and Tom ' Thumb entrances. ' The ro osed roadwa section meets Mn DOT State Aid standards. P P Y / I ' , ' OSM Project No. 443$.60 Page 10 � � The Chippendale/Chile Avenues realignment is proposed to be � constructed as desi ned in the Feasibili Re ort for Ci Pro'ect No. 179, _ g tY P tY J � completed by Short, Elliot, Hendrickson, Inc., which was accepted by the City Council in April of 198$. As this report explains, the realignment of � this intersection as ro osed will considerabl im rove traffic flow throu P P Y P � � this area. The cost estimate includes provisions for future signalization of this intersection. The proposed intersection is shown on Drawing No. $ � in the Appendix of this report. � � As part of the intersection realignment it is recommended`that the Dodd Boulevard connection onto Chippendale Avenue be terminated by creating � a cul-de-sac adjacent to the Super America driveway entrance, Eliminating the Dodd Boulevard connection onto Chippendale Avenue � will significantly reduce the traffic congestion at the intersection and will � reatl im rove traffic and edestrian safe in the area. Drawing No. 8 g Y P P tY �� in the Appendix of this report shows the proposed Dodd Boulevard cul-de- sac. A second alternative that was reviewed was to allaw Dodd Boulevard � to connect to Chi endale Avenue at a roximatel 100' south of it's PP PP Y � existing location. This alternative will require the purchase of addition right-of-way from the parceT located south of Dodd Boulevard at � Chi endale Avenue. PP � _ � � OSM Project No. 4438.60 Page 11 � � I The Chile Avenue reconstruction will include the removal of the existing � avement bituminous curb and trail on the west side, and ossibl the p , P Y � concrete curb and gutter on the east side from 145th Street to the Independent School District No. 196 south boundary (0.2 miles). It will � be re laced with a 32' wide bituminous street flanked b concrete curb p Y � and gutter on both sides. The trail will be installed as a normal boulevard, sidewalk section instead of having the trail immediately � adjacent to the curb. � 4.2 Sanitary Sewer - It is proposed to reconstruct approximately 2000' of 8° � sanitary sewer from Cameo to Chippendale Avenues. 1fie services in the � area that are found to be in poor condition will also be reconstructed. � A 4" sanitary sewer service will also be provided to the proposed Fire � Station site as art of this ro'ect. P P J � The proposed sanitary sewer improvements are shown on Drawing Nos.S � through 7 in the Appendix of the report. � 4.3 Watermain-The proposed watermain improvements include replacing the '� existin 6" line from Chi endale Avenue to Cameo Avenue with a 12° g PP � trunk line. The 1"watermain services in the area will also be replaced to � I� � OSM Project No. 4438.60 Page 12 � '� the right-of-way line. The proposed watermain improvements conform to � the Com rehensive Water S stem Plan, 1988. P Y � A 6"waterrnain service will be provided to the proposed Fire Station site � as art of this ro'ect. P P J � The proposed watermain improvements are shown on Drawing Nos. 5 � r rt. through 7 m the Appendix of this epo � 4.4 Storm Drain - In accordance with City policy all storm drain systems are � designed to handle a'10 year - 24 hour rainfall event and all ponds and � storm drain outlets are designed to handle a 1� year - 24 hour rainfall event. � � The proposed storm drain improvements include the installation of 2�' of 12°to 21"diameter storm drains. The proposed improvements conform � to the City of Rosemount Drainage Plan - West Drainage Area, 19$9 and � are shown on Drawin Nos. 4 throu h 7 in the A endix of this xe ort. g g PP P � The existing storm drain facilities located on Chile Avenue may be � e anded to include the 143rd Street intersection. The costs for this xP � improvement are also included in this report. However, the proposed � �� OSM Project No. 4438.60 Page 13 � � � changes may not be required after surveying and further design is � com leted. ; P � � ,_;< � � � � � � � � � � 4.5 TrailJWalkway - The existing bituminous and concrete trails/walkways � that are disturbed durin construction will be restored to their ori inal g g � conditian. � 4.6 Street Lights - T'he proposed street lighting system is showrs on Drawing � Nos. 4 through 7 in the Appendix of this report. r � Three different street light styles were reviewed for use along 145th Street � and are listed as follows: - Acorn Style - 150 watt acorn shaped fixture mounted on a 15' � �berglass decorative pole with a base, Estimated � installation cost for each light = �2,600.00. � - Lantern Style - 150 watt Iantern fixture mounted on a 18' pole. � Estimated installation cost for each li ht = $l,Q(10.00. g � - Cobra Style - 250 watt fixture mounted on an 6' mast arm on a 30' � ole aluminum or fiberglass). Estimated installation P � � cost for each light = $2,300.00 (aluminum pole) � OSM Project No. 4438.60 Page 14 � � � $1,400.00 (�iberglass pole), � � A cost comparison for installing street lights along the project route for each of the above listed styles is listed as follows: � �' - Acorn Style - 7 Ea * $2,600.00 = $18,200.00 - Lantern Style - 7 Ea * $1,000.00 = $7,000.00 � r 1 - 7 E * 2 .00 = 16 100.Q0 Aluminum Pole - Cob a Sty e a $ ,300 $ , ( ) � - Cobra Style - 7 Ea " $1,400.00 = $9,800.00 (Fiberglass Pole) � . . . , The local electnc utihty For this proJect is Northern State Power Company. They wili � install a11 wiring, connectians, and fixtures This work will be constructed under contracts separate from the street and utility work discussed in this report. � � 4.7 Overhead Utilities-As art of the 145th Street Improvement project it is P � proposed to relocate the existing overhead lines. Several alternatives for relocating the existing overhead lines along 145th Street were reviewed � and are listed as follows: � 4.7.1 Electric Utility: � Alternative No. 1 - Bu the existin overhead lines in- lace from ry � P � Chippendale Avenue to Cameo Avenue. This alternative would require � � OSM Project No. 443$.60 Page 15 � N � the purchase of a 10' wide utility easement on the north and south side of � 145th Street to allow for the installation of 2 or 3large electrical "switch � boxes" (approximate dimensions 8'x 8'). This Alternative would also , require that each house service along the project route be revised. The � i ed at 600.00. .This cost cost for revising each house service is est mat $ �` estimate assumes that the electric service for each house meets current codes and only a minimal amount of work is required. � _ � A separate contractor would need to be hired by each of the prop�rty owners to revise their connection from the new buried electric service to � the house including reuising the metered connection. The mimmum � service charge for each homeowner will aiso increase from $4.50 to $6.50 per month when their electric service changes for overhead to � undergr+�und. � Total Estimated cost for Alternative No. 1 = $280,000.� (This cost does � not include the cost for revising each house service but it does include � credit from NSP for existin facili reuse . g tY ) � Alternative No.2 - Relocate the existing overhead lines located on 145th � r m Cameo Av nue to Chi endale Avenue onto 146th Street. Street f o e pp � This Alternative would require replacing the existing poles on 146th Street � OSM Project No. 4438.60 Page 16 � � � with new poles that are 5' taller and have a 8' cross ann. This Alternative � would also re uire installin a ole and 3 spans of conductor on 146th q g P � Street between Chianti Avenue and Chippendale Avenue where overhead power iines da not presently eacist. � '�' With the main lines relocated to 146th Street a new underground residential distribution system could be installed along 145th Stree� As � with Alternative No. 1, each residence would be required to revise their � current overhead service to accept the underground installation. \� Total estimated cost for Alternative No. 2 = $ 101,000.00. {This cost does � not include the cost for revising each house service but it does include credit from NSP for existing facility reuse). � � Alternative No. 3 - Allow the main line overhead service to stay on the � north side of 145th Street and put the street crossings and the residential distribution system far 145th Street underground. As with Alternative � No.'s 1 and 2 each residence on the south side of 145th Street would be � required to revise their current overhead service to -accept the underground installation. � � � ` --- � OSM Project No. 4438.60 Page 17 � � Tota1 estimated cost for Altemative No. 3 = $15,Q00.00 (This cost does � not include the cost for revisin each house service). g � Alternative No. 4 - Allow the overhead lines to remain on 145th Street. � Some of the poles along the project route may need to be moved to � construct the roadway to Mn/DOT State Aid Standards. NSP has stated that they could upgrade their facilities in this area which would � aesthetically improve 145th Street. � Total estimated cost for Alternative No. 4 = $4.00 �; �i 4.7.2 Telephone Utility: The existing main line telephone cable located � on 145th Street between Chippendale Avenue and Cameo Avenue is underground. However, the existing residential telephone �' services are overhead. The estimated cost for burying the existing � residential telephone services in this areas is $10,000.�. A Vista Telephone representative stated that the existing overhead � tele hone lines located on the north side of 145th Street west of P �' Chippendale Avenue are on a high priority list to be buried. � reet between 4.7.3 Cable T.V.: 1fie existing Cable TV hne on 145th St � Chippendaie Avenue and Cameo Avenue is located overhead on � � OSM Project No. 4438.60 Page 18 � � the electric utility poles. If it is determined thai the existing � electric lines are to be buried or relocated, then the Cable TV lines � will do the same.T'he estimated cost for burying the existing Cable TV lines in-place is $15,000. If it is required that the existing poles �� be relocated due to the roadway construction, then the Cable T'V �� lines will be relocated with the poles at no cost to the City. � 4.8 Right-of-way and Easements -Most of the work under this project will be � completed within the existing right-of-way along 145th Street and Chile Avenue. However, the realignment of the Chippendale/Chile Avenues � intersection will require the acquisition of additional right of way. As � explained in the April, 1988 Feasibility Report for City Project No. 179, small areas wiil need to be acquired from Lot 1, Block l of Rahn's 4th � Addition and from the parcel located south of Dodd Boulevard at its ;�' intersection with Chippendale Boulevard. A Iarger area will be needed from Outlot A of the Carrollton Addition for the realignment of Chiie � Avenue. � � � � � � OSM Project No. 4438.60 Page 19 � � ' Additionally,temporary grading easements will be required on portions of �` the ro'ect but cannot be determined until final design. P J � � The estimated project costs listed in this report do not include easement � and ri ht-of-wa ac uisition costs. g Y q � Right-of-entry agreements will also be required from a nurnber the � ro erties alon the ro'ect route in order to match the existing yard and P P g P J � driveway areas to the proposed street and service construction. It is assumed that these right-of-entry agreements will be acquired at no � additional cost to the City. � 4,9 Permits/Approvals - Permits will be required for this project from the � Minnesota Department of Health for watermain extensions and the ,�' Minnesota Pollution Control Agency for sanitary sewer extensions. Approval of the sanitary sewer plans is also required by the Metropolitan � Waste Control Commission. � As a Minnesota Department of Transportation State Aid Project,the plans � must meet the Mn/DOT Standards and will follaw through the M.S.A, � rocess xo obtain the a rovals necessa for cost articipation. P PP rY P � � '� OSM Project No. 4438.60 Page 20 � � 4.10 Detour Route - During the majority of the construction operation it will �' be necessa for the contractor to kee tra�c off of 145th Street West rY P � from Shannon Parkway to Cameo Avenue. Therefore, it will be necessary to set up a detour route around the proposed construction. It is proposed � w on Coun Road 42 then to detour the traffic south on STH 3 then est ty � north on Shannon Parkway and back to 145th Street and vis versa. � � � � � � � � � � � � � OSM Project No. 443$.60 Fage 21 � � 5 FINANCING � � 5.1 Cost Estimate•Detailed Cost Estimates can be found in xhe Appendix of this report. The estimates are based on 1992 construetion costs and � include a 10%contin en factor and all related administrative costs. The g �3' � administrative costs are estimated at 30% and include legal, engineering, interest and other adrninistrative items. A summary of these costs are � , Iisted as follows: � SUMMARY OF PROJECT CO5TS � CHILE 145TH STREET AVENUE �i Sanitary Sewer $0.00 $80,4(�.� Sanitary Sewer Service �0.00 $58,100.00 � Watermain $0.00 $130,600.OU Water Services $0.00 $57,Z00.00 '�� Storm Drain *$15,400.00 $94,200.00 Streets $25,000.00 $678,400.00 � ""$7 Q00.00 Street Lighting $ 0.00 � � Overhead Utilities $0.00 '*"$0.� Sidewalk/Trail $8,400.00 $99,z�4:00 � Totals 48,840.00 1,205,644.� * Final design will determine whether or not this is required � ** The cost summary assumes that 7 lantern style street lights will be installed along 145th Street. *"* The cost summary assumes that the overhead utility lines remain in- � place along 145th Street. � � OSM Project No. 4438.60 Page 22 � � ' 5.2 Cost Recovery - This project will be funded from assessments, Street and i � ' Core Fund(includes Mn/DOT State Aid Funds),Storm Sewer Core Fund, �' VVatermain Core Fund and the Sanitary Sewer Core Fund. Shown below are the General Funding Overviews for the 145th Street and Chile Avenue � Reconstruction Pro'ect followin the overviews is a discussion of each of � , S �, the project items and their revenue sources: � � � � � � � � � � � � � � OSM Project No. 4438.60 Fage 23 ESTIMATED GENERAL FUNDING OVERVIEW CHILE AVENUE RECONSTRUCTION FROM 144TH STREET TO ISD NO. 196 SOUTH BOUNDARY ESTIMATED REVENUES ITEM ESTIMATED ASSESSMENT STORM STREET TOTAL COST SEWER CORE CORE FUND REVENUES FUND Storm Drain $15,400.00 * $0 $15,400.00 * $0 $15,4�.00 ' Street $25,000.00 $22,696.87 $0 $2303.13 $25,0(�3.00 Sidewalk/Trail $8,400.00 �0 $0 $8,400.00 $8,40(}.00 TOTALS $4$,800.00 �22,696.87 $15,400.00 $10,703.13 $48,800.00 * Final Design will determine whether or not this is required � � � ;� � � � '� �` � '� �'� � �` � � � '� `� � � � sewer work is considered 5.2.1 Samtary Sewer: Because the samtary � replacement/rehabilitation it is proposed to assess the improvement based on its useful life. The sewer was constructed � in 1955 and has a e ected life of 50 ears. Pro'ect costs in excess xF Y J � of the amount assessed will come out of the Sanitary Sewer Cost fund. Sanitary Sewer Services will also be assessed based on their � useful life. � 5.2.2 Watermain: Because the watermain work is replacement and � upgrading of an existing line, it is proposed to assess the � improvement based on the useful life of its residential equivalent. The watermain was constructed in 1948 and has a e�cpected life of � 50 years. Project costs in excess of the amount assessed will come � out of the Watermain Core Fund. Watermain services will also be � �ssessed based an their useful life. � 5.2.3 Storm Drain: A ortion of the storm sewer(catch basins and catch' P � basin leads) will be paid for by Mn/DOT State Aid Funds. The remaining funds will co�e from the Storm Sewer Core Fund. � � � � - OSM Project No. 4438.60 Page 26 � � 5.2.4 Street: Revenues for street construction will be available throngh � s ecial P � assessments, Mn jDOT State Aid Funds and Street Core Funds. � 5.2.5 Sidewalk/TYail: Revenues for sidewalk/trail construction will be � available through the Street Core Fund. � 5.3 Assessments -Assessments for the project were determined using the City � of Rosemount Assessment/Improvement Poiicy (adopted by the City Council on March 17, 1992). The assessment Policy states that only those � properties that have an access or connection to the improvement will be � assessed. A list of the properties proposed to be assessed for the 145th St. Project is given in the Appendix of this report. The following table shaws � the proposed assessment rates and the corresponding assessment basis for � each zoning type in the project area: � � � � � � � OSM Project No. 4438.60 Page 27 � � � ASSESSMENT RATES I� Assessment Zoning Assessment Basis Assessment Per Type Type Front Foot � Street R-1 32' wide street, including lateral $53.80/foot C-1, R-3 storm drain and street lights. � C-1, R-3 3T wide street including lateral $59.37/foot storm drain and street lights � Watermain R-1 Residential watermain equivalent $12.88/foot 6" main, gate valves, fittings (plus 20% credit for useful service life). � Watermain R-1 Total estimated cost of watermain $1125.85/each Services services divided by the number of services (plus 20% credit for � useful service life). Sanitary Sewer R-1 Total estimated cost of sanitary $16.21/foot ,� sewer divided by the assessable front footage (plus 48% credit for useful service life). � Sanitary Sewer R-1 Total estimated cost of sanitary $719.33/each Services sewer services divided by the � number of services (plus 48% credit for useful service life). � � � � � � � OSM Project No. 4438.60 Page 2$ � � . 6 PROJECT SCHEDULE � � The proposed project schedule for this improwement is as follows: � Janua 13 1993 Neighborhood Meetmg ry , � Reeeive Feasibility Report/Set Public Hearing January 19, 1993 Hold Public Hearing/Order Plans & Spec's February 16, 1993 � Acce t Plans and S ec's Order Ad for Bid March lb, 1993 P P / � Bid Opening April 23, 1993 Receive Bids/Award Contract May 4, 2993 � i June 1993 Begm Construct on , �� Substantial Completion of Construction September, 1993 Final Wear Course Installation June, 1994 � Assessment Hearing Fall, 1994 � First Payment with Real Estate Taxes May, 1995 � � � � � � � OSM Project No. 4438.60 Page 29 � � 145TH STREET RECONSTRUCTION PRUJECT S�-IANNON PARKWAY TO CAMEO AVENUE � CITY OF R4SEM4UNT CITY PROJECT NO. 235 � PRELIMINARY COST ESTIMATES � A. SANITARY SEWER � # ITEM QTY UNIT AMOUNT ` PRICE L Remove existing Sewer Manhole 5 EACH �400.00 2,t�10.Q0 � 2. Remove Existing San. Sewer Pipe 1915 L.F. $2.00 3,830.00 3. Connect to F.xisting San. Sewer lU L.F. 100.00 1,OOO.U� � Stub 4. Repair/Re-grout Manhole at 2 EACH $100.00 $200.t1Q " Breakin � 5. 8" PVC Pipe Sewer SDR 35 370 L.F. $22.00 $$,140.(� 6. 4' Dia. San. Sewer Manhole (0- 5 EACH $1,000.00 5,(�.00 10') '� 7. E�ctra Depth Manhole 10 L.F. $100.00 1,(�0.00 8. Rock Trench Stabilization 50 TON $11.00 $550.� � Sub-total $56,210.� + 10% Contingencies $5,621.00 � Total Sanitary Sewer Construction Cost $61,831.Ot? ' + 30% Administration $18,Sfi9:� � TOTAL ESTIMATED SANITARY SEWER PROJECT COST $80,4�.00 � � � � � � � � � B. SANITARY SEWER SERVICES # ITEM QTY UNIT AMOUNT PRICE � 5. 8" X 4" PVC WYE 42 EACH $50.00 $2,100.i� 4. 4" PVC Pipe Sewer SDR 26 1540 L.F. $25.00 $38,5(�.t� � Service Pipe Sub-total $40,6�.00 + 10% Contingencies �4,�:� � Tota1 Sanitary Sewer Construction Cost $'�4,66(1.00 + 30% Administration $13,440.00 � TOTAL ESTIMATED SANTTARY SEWER PROJECT COST $58,100.(�? � � � � � � � � � � � � � � � C. WATERMAIN # ITEM QTY UNIT PRICE AMOUNT � 1. 6„ DIF CL 52 Watermain 200 L.F. $18.�? $3,6U4.00 2. 12" DIP CL 52 Watermain 2150 L.F. $25.(� $53,750.00 '� 3. 6" Gate Vaive & Box 12 EACH $400.00 $4,8t�}.fl0 4. 12" Gate Valve & Box 4 EACH $1000.0U $4,(�0•(� � 5. Hydrants 5 EACH $1100.00 $S,S�.OQ 6. Reiocate Hydrant 2 EACH $1�.� $2,U00.� 7. Hydrant Extensions 2 L.F. $250.� $500.40 � 8, Fittings 4500 LB $1.35 $6,075.Ot1 9. Conneet to Existing W.M. Stub ' 4 EACH $SOQ.00 $2,(�.OU � 10. i2" X 12" Wet Tap Incl. 12° 1 EACH $2000.00 $2,OOO.t�? . Tapping Valve 11. 12" X lb" Wet Tap Incl. 12" 1 EACH $2000.E� $2,00(1.00 � Tapping Valve 12. 12" X 6" VVet Tap Incl. 6" 1 EACH $1200.(� $1,200.(� � Tapping Valve 13. Abandon W.M. (All Sizes) 2100 L.F. $1.00 �2,100.00 14. Remove Valve Box 7 EACH $100.00 $700.� � 15. Rock Trench Stabilization 100 TON $11.00 $1,1�.00 Sub-total $91,325.t� � + 10% Contingencies $9,150.� Total Watermain Construction Cost $100,475.00 � + 30% Administration $30,125.� TOTAL ESTiMAT'ED WATERMAIN PROJECT COST $130,6�.(� � � � � � � � � D. WATER SERVICES � # ITEM QTY UNIT PRICE AMOIJNT L 1" Corporation Stop 41 EACH $55.00 $2,255.00 � 2. 1" C�rb Stop & Box 41 EACH $100.00 $4,100.00 3. 1" Type K Copper Service Pipe 1350 L.F. $10.00 $13,500.� � 4. Connect to Existing Service 41 EACH $100.00 4,1�.00 S. Restoration 1 L.S, $16,400.00 16,400.� � Sub-total $40,355.00 + 10% Contingencies $4,035.� Total Water Services Construction Cost $44,390.50 � + 30% Administration 513,309.50 TOTAL ESTIMATED WATER SERVICES PROJ�CT COST $57,700.� � � � � � � j � � � � � � � E. STORM DRAIN # ITEM QTY UNIT PRICE AMOUNT � 1. 12" RCP Sewer Design 30Q6 340 L.F. $20.00 $6,8t)4.(�(1 � CL V 2. 15" RCP Sewer Design 30O6 835 L.F." $21.00 $17,535.00 CL V � 3. 18" RCP Sewer Design 3006 690 L.F. $23.00 �15,870.00 CL III 4. 21" RCP Sewer Design - 200 L,.F. $27.00 $S,40i}.00 , 3(�6 CL 111 5. Construct 48" Dia. Stm. MH 4 EACH $900.00 �3,60Q.00 (0 - 10') � 6. Fxcess 48" Dia. M�i Depth 4 L.F. $100.00 $4t�}.(� (over 10') 7. Construct 48" DIA Storm 8 EACH $900.� $7,200.00 � CB/MH 8. Construct 72" DIA Storm 1 EACH $1,200.00 $1,200.OQ � MH (0-10') 9. Construct Catch Basin 8 EACH $850.00 $6,8Q0.(l0 10. Rock Trench Stabilization 50 TON $11.00 $550.00 � 11. Connect to Existing MH 1 EACH $2(�.00 $200.00 12. Connect to F�acisting Stub 3 EACH $100.Q0 �300.i� � Sub-total $65,$55.� + 10% Contingencies $6,585.00 � Total Storm Drain Construction Cost $72,444•� + 30% Administration $21,760.� � TOTAL ESTIMATED STORM DRAIN PROJECT COST $94,200.00 � � � � � � i F. STREETS � # ITEM QTY UNIT AMOUNT PRICE L Mobilization 1 L.S. $10,000 $14,004.� � 2. Clean-up 1 L.S. $10,000 $10,a00.00 3. Remove Bituminous 16950 S.Y. $1.00 $16,950.U0 � 4. Remove Storm Sewer Pipe (All Sizes) 100 L.F. $5.00 $SOU.00 5. Remove Concrete Curb & Gutter 6370 L.F. $2.00 $12,740.00 � 6. Remove Catch Basin 3 EACH $2Q0.00 $b0(}.t� 7. Remove Manhole 1 EACH $250.(� $250.(30 � 8. Remove Concrete Sidewalk 23500 S.F. $L50 $35,250.� 9. Saw Cut Bituminous Pavement 300 L.F. $3.00 $900.� 10. Common Fxcavation 29,400 C.Y. �3.(M? $88,200.Q0 � 11. Granular Borrow (LV) 4200 C.Y. $5.� $21,04Q.00 12. Topsoil Borrow 1500 C.Y. $6.00 $9,0�.� � 13. Subgrade Preparation 58.5 R.S. $100.� $5,850.00 14. Aggregate Base CL 5 - 100% Crushed 12,100 TON $5.00 $60,SOU.� � Rock 15. Type 31 Base Course Mixture 3820 TON $15.04 $57,3�.� 16. Type 41 Wear Course Mixture 3120 TON $18.U0 �56,160.00 � 17. Bituminous Material for Tack Coat 1500 GAL» $1.20 $1,$00.00 18. Concrete C�rb & Gutter B618 10,4{?0 L.F. $4.50 $46,8�.O0 � 19. Inegular Width Paving (Driveways) 1670 S.Y. $2.04 $3,340.� 20. Conduit 210 L.F. $10.00 $2,100.� � 21. Seed W/Mulch & Fertilizer 1 ACRE $150Q.� �1,500,(f0 22. Sod 11,470 S.Y. $2.Q4 $22,940.� � 23. F & I Trees 13 EACH $250.00 $3,250.00 24. Furnish & Install Traffic Signs 6 EACH $150.00 $900.00 � 25. F & I Signal Light Handhole 8 EACH $450.00 $3,600.00 26. Traffic Marking Paint 40 GAL. $50.00 $2,�.00 27. Structure/GV Adjustment ],0'EACH $100.00 $1,�O.QO � Sub-total $474,430.00 � + 10% Contingencies $47,443.00 Total Street Construction Cost $521,873.00 � + 30% Administration $156,527.00 TOTAL ESTTMATED STREET PROJECT COST $678,400.00 � �✓ i G. SIDEWALK/TRAIL � __ # ITEM QTY UNIT AMOUNT PRICE � 1. 4" Concrete Walk 15500 S,F. $3.00 $46,5�.(� 2. 2" Bituminous Walk 229� S.F. $1.00 �.900:00 � Sub-Tata1 $69,400.t� + 10% Contingencies $6.940.00 � Total Sidewalk/Trail Construction Cost 76,340.00 + 30% Administration $22,860.Q0 � T4TAL ESTIMATED/SIDEWALK/TRAIL PROJECT COST 99,200.� � � H. CHILI AVENUE STORM DRAIN # ITEM QTY UNIT PRICE AMOUNT � 1. 12" RCP Sewer Desi 3006 CL V 320 L.F. $20.00 $6,4(�.(� gn 2. Construct Catch Basin 4 EACH $850.00 $3,4�:� '� 3. Construct 48" Dia: Stm. MH (0-10') 1 EACH $950.00 $950.00 Sub-total , S 10,750.00 � + 10% Contingencies $1,1�.00 Total Chile Avenue Storm Drain Construction Cost $11,850.00 � + 30% Administration $3,550.� TOTAL ESTIMATED CHILE AVENUE STORM DRAIN PROJECT $15,440.00 `� COST � � ' � � � � � � L CHILE AVENUE STREET (32 WIDTH) ' # ITEM QTY UNIT PRICE AMOUNT L Remove Bituminous 1500 S.Y. �1.00 $1,500.00 � 2. Remove Concrete C�rb & 330 L.F. $2.00 $f6U.00 ' Gutter 3. Saw Cut Bituminous Pavement 120 L.F. $3.00 $360,� � 4. Common Excavation 11Q0 C.Y. $3.00 $3,3QO.OU 5. Granular Borrow (LV) 200 C.Y. $4.00 $800.00 � 6. Topsoil Borrow 50 C.Y. $6.(� $300.00 7. Subgrade Preparation 3.5 R.S. $100.00 $350.00 � 8. Aggregate Base CL 5 - 100% 360 TON $5.00 $1,80U.tM�: Crushed Rock , 9. Type 31 Base Course Mixture 140 TON $15.00 $2,100.00 10. Type 41 Wear Course Mixture 120 TON $18.� $2,16�.� 11. Bituminous Material for Tack 80 GAL. $1.20 $96.� � Coat 12. Concrete C�rb & Gutter B618 560 L.F. $4.50 $2,520.(� , 13. Irregular Width Paving 70 S.Y. $2.00 $140.00 (Dnveways) � 14. Sod 400 S.Y. $2.00 $800.OQ 1S. Structure/Gate Valve 6 EACH $100.00 $600.00 Adjustment , Sub Total $17,486.00 + 10% Contingencies $1,748.00 ' Total Street Construction Cost $19,235.W + 30% Administration 55,765.Q0 � TOTAL ESTIMATED CHILE AVENUE STREET PROJECT COST $25,OOO.t� � , , � � ' � i J. CHILE AVENUE SIDEWALK/TRAIL t # ITEM QTY UNIT PRICE AMOUNT 1. 2" Bituminous Walk 5900 S.F. $1.� �.5.900.00 ' Sub-Tota1 $5,900.00 + 10% Contingencies _�z� � Total Estimated Chile Avenue $6,490.00 Sidewalk/Trail Construction Cost + 30% Administration �1,910.OQ � TOTAL ESTIlViATE CHILE AVENUE SIDEWALK/TRAIL $8,4�.U0 PROJECT COST � � � , � � ' � � , � � � ' , PRELIMINARY ASSESSMENT ROLL GITY PROJECT NO. 235 145TH STREET RECONSTRUCTION PROJECT � ' CITY OF ROSEMOUNT, MiNNESOTA ', OSM PROJECT NO.4438.60 ' IPARCEL ID. SITE NUMBER ABBREVtRTED L GA DES RIPTION SE TION TOWNSHIP&RAN6E ADDRES OWNER ROSEMOUNT COMMUNiN � 34-03010-012-80 SE 1/4,SEC 30,Tl}5N,R19W 3810145TH ST W HOUSWG 34-03010-016-80 145TH ST W CAR�LL.RICHARD L.&EPRA/1ET � 34-03010-015-86 ROSEWOOD MANOR SE 1/4,SEC 30.Tl 15N,R19W 145TH ST W TYCON MANAGEMENT SHlMOTA.RICHAR�F.&JOYGE 34-03010-014-88 SE 1/4,SEC 30,Tl 15N,R19W 145TH ST W A. 34-03010-010-91 SE 1i4,SEC 30,T115N.R19W 3710145TH ST W � 34-03010-OT0-90 TOM THUMB FOODS MARKET INC. SE 1/A,SEC 30,T115N,R19W 145TH ST W 34-03010-010-85 SUPER AMERICA SE 1/4,SEC 30,T115N,R19W 145TH ST W KELIEY,VEf31VON R. FINNEGAN.PAiRIGK F.8c MARY � 34-03010-010-20 NE 1/4,SEC 30,T115N,R19W 3535145�1-i ST W R. 34-49200-160-0 LOT 16,BL 1,MOTL'S ADDITION NW i/4,SEC 29,T115,R19W 145TH ST W HYNES,MARY E. 34-03700-080-06 PART OF lOT b, AUD.SUB.#1 NW 1/4,SEC 29,T115N,R19W 3395145TH ST W FELSTEAD,JOHN�.&BRANDI K. � SCHROEDER,MARVW 8c 34-03700-100-06 PART OF LOT 6, AUD.SUB.#1 NW 1/4,SEC 29,T115N,R19W 3375145TH ST W NATAUE 34-0370a120-O6 PART�F lOT 6, AUD.SUB.#i NW 1 f4,SEG 29,T115N,R19W 3355 145TH ST W KORNOVICH,ASHLEY J. � 34-03700-130-06 PART OF LOT 6, AU�.SUB.#1 NW 1/d,SEC 29,?115N,R19W 3335145TH ST W MAWE,WILUAAA C.8r JERYL G, 34-03700-090-06 PART OF LOT 6, AUD.SUB.#1 NW 1/4,SEC 29,T115N,R19W 3325145iH ST W TOOMBS.R�BERT�B€TT`( ' 34-03700-010-06 PART OF LOT 6, AUD.SUB.#1 NW 1/4,SEC 29,T115N,R19W 3315145TH St W STRESE,STEVEN 8c OEBORAH 34-03700-070-06 PART QF LOT b, AUD.SUB.#i NW 1/4,SEC 29,T115N,R19W 3305145TH ST W JOHNSON,HEIEN W. 34-03700-0� �i PART OF LOT 6, AUD.SUB.#1 NW}/4,SEC 29,T115N,R19W 3285145TH ST W OLSON,EUGENE&GIORiA � 34-037U0-060-06 PART OF LOT b, AUD.SUB.#1 NW 1/4,SEC 29,Tl 15N,R19W 3265145TH ST W KELLY,Ml�RION 34-03700-190-06 PART OF LOT 6, AUD.SUB.#1 NW 1/4,SEC 29,Tl 15,R19W 3245145TN ST W 34-037Q0-171-06 PART OF LOT 6, AU�.SUB.#1 NW 1/4,SEC 29,Tt}5NR19W 3195145TM ST W STEINIE,THOMAS&MARY � 34-0370a160-06 LOT 8, AUD.SUB #1_ NW 1/4,SEC 29,T115N,R19W 3185145TH ST W SMITH HARRY dr GENEVIEVE __ _ _. _._ 34-03700-080-06 LOT 9,AUD.SUB.#1 NW 1/4,SEC 29,T115N,R19W 3175145TH ST W OLSON,BRADIEY A. 34-03700-01a11 LOT 10,AUD.SUB.#1 NW 1/4,SEC 29,T115N,R19W 3165145TH ST W KELIER,RICWARD F.&DARIENE � --_-- ---- - -- - 34-03700-011-11 LOT 11,AUD.�B.#1 NW 1/4,SEC 29,Tl 15N,R19W 3155145TH ST W CHERRY,ROBERT l.&DIANE R. 34-03700-011-12 #T --' _-. NW 1/4,SEC 29.T115N.R19W 31351457H ST W UUFF.HELYN&EUGENE , -- 34-03700-012-12 E 105'OF LOT 12`AUD.SUB.#1 NW 1/4,SEC 29,Tl 15N,R19W 31251451H ST W FISCHER,JOHN J.&_ELAlNE D. _ KLEMENHAGEN.DANIEI P.& 34-03700-010-13 LOT 13, AUD.SUB.�1 ;NW 1/4,SEC 29,Tl 15N,R19W 3115145TH ST W RENEE N. __ , - - - _ . _ _�._ _ _---- 34-03700-Q10-15 LOTS 14&15_AUD.SUB #i ',NW t/4,SEC 29,Tl 15N,R19W 14475 CAMEO AVE. VISTA TEIEPHONE CO. 34-62853-010-01 LOT l,BL 1,RAHN'S 4TH ADDN. I SW 1/4,SEC 29,T115N,R19W 3450145TH ST W RIEGERT,REGINA R.RAHN ----__-__ . - ------__ --- - ---- 34-62853-020-01 LOT 2,BL 1,RAHN'S 4TH ADDN.___!5W 1/4,SEG 29,T115N,R19W 3400145TH ST W RECHTZIGEL,_GARL&RUTH ' _ ___ � --- ------ - --- 34-62853-030-01 LOT 3,BL t,RAHN'S 4TH ADDN ___ �SW 1/4,SEG 29,T115N,R191N 3390145TH ST W FISCHER,LUC�LLE K. _ _ 1 _ - -- - 34-62850-010-01 LOT 1,BL 1,RAHN'S ADDITION SW i/4,SEC 29,T115N,R19W 3380145TH ST W MOELIER,MAf2Y ' Page l � IPRELIMINARY ASSESSMENT ROLL CITY PROJECT NO. 235 � 145TH STREET RECONSTRUCTION PROJECT CIIY OF ROSEMOUNT, MINNESOTA OSM PROJECT NO.4438.b0 , ' PARCEL ID. SiTE NUM ER AB REVIRTED GAL DES RIPTION SECTION T WNSHIP&RANGE AD R WNER , 34-62853-020-01 LOT 2,BL l,RAHN'S ADDITION SW 1/4 SEC 29,Tl 15N,R19W 3370145TH ST W WIEDERHOLD,Jf3H1V&JUDITH 34-03800-�2a12 PART OF LOT 12,AUD.SUB#27 SW 1/4,SEC 29,T115N,R19W 3340145TH ST W SAMSON,NORBERT&KATHLEEN ' 34-03800-030-12 PART OF LOT 12 AUD.SUB#27 SW 1/4,SEC 29,Tl 15N,R19W 3330145tH ST W WALLACHY,THERESA 34-03800-130-12 PART OF LOT 12 AUD.SUB#27 SW 1/4,SEC 29,T115N,R19W 3320145TH ST W NELSON,JAMES A.&AN6ElJNE ' 34-03804120-12 pART OF LOT 12 AUD.SUB#27 SW 1/4,SEC 29,T115N,R19W 3310145TH5T W BAUMGARTNER,KATHERINE F, 34-03800-200-12 PART OF LOT 12 AUD.SUB#27 SW 1/4,SEC 29,T115N,R19W 3300 145TH ST W STf2ESE,MAI26ARET 34-03800-19a12 PART OF LOT 12,AUD.SUB#27 SW 1/4,SEC 29,T115N,R19W 32601451H ST W MCDONOUGH,SARA A. ' 34-03800-020-11 W�5�OF LOT 11 AUD.SUB.#27 SW 1/4,SEC 29,Tl 15N,R19W 3240145TH ST W HARPSTER,LUELLA 34-03800-01a11 E 58.65'OF LOT 11,AUD.SUB.#27 SW 1/4,SEC 29,T115N,R19W 3220145iH ST W FLUEGEL KIMBERLY A. JACOBSON,LAWERENCE A.& � 34-03800-010-10 LOT 10, AUD.SUB.#27 SW 1/4,SEC 29,T115N,R19W 3210145TH ST W SUSAI�i B. ��8�-�1�� lOT 8,AUD.SUB.#27 SW 114.SEC 29.T115N,R19W 3190145TH ST W RIES,i�/IN 34-03�00-030-44 W 50'QF LOT 44,AUD.SUB.#1 SW}/4,SEC 29,T115N,R19W 3180 145TH ST W LOESCH,TIMOTHY&JOAN D. E 60'OF W 110'OF LOT 44,AUD.SUB. ' 3d-03700-020-44 #� SW 1/4,SEC 29,T115N,R19W 31701d5TW ST W SMITH,WESLEY D.&GATHERINE 34-03800-010-44 LOT 7,AUD.SUB.#27 SW 1/4,SEC 29,T115N,R19W 3160145TH ST W SWANLUN�,SHERRI RAE W 25'OF LOT 43 AUD.SUB.#1 PLUS ' 34-03700-01�-44 E 25'OF LOT 44 AUD.SUB.#1 SW 1/4,SEC 29,Tl 15N,R19W 3150145TH ST W SEEGER,JEFFERY W.&DENISE A: 34-03�00'�20'43 �1 SW i/4,SEC 29,7115N,R19W 3130145TH ST W ��3 W 55'OF LOT 42 AUD.SUB.#1 SW 1/4,SEC 29,Tt 15N,R19W 3120145TH ST W HEINEN,RiCHARD J. � 34-0370a-010-42 E 55'OF LOT 42,AUD.SUB#1 SW 1/4,SEG 29,T115N,R19W 311D 145TH ST W HEINEN,RIChIARQ J. 34-0370Q020-41 LpT 41,AUD.SUB.#7 SW 1/4,SEC 29,T115N,R19W 31D0 145TH ST W ERICKSON,JOAN W. 34-03700-010-41 LOT 40,AUD.SUB.#1 SW 1/4,SEC 29,T115N,R19W 3090145TH ST W EAGAN,THOMAS G. ' OUTLOT A CARROLLTON ADDN. NW 1/4,SEC 29,Tl 15N,R19W 145TH ST W 34-49200-160-0 LOT 16,BL l,MOTZS ADDN. NW 1/4,SEC 29,Tl 15N,R19W 3405 145TH ST W HYNES,MARY E. LOT 15 BL 1 MOTZ'S ADDN. NW 1 4 SE �115N R19W 3400 144TN ST W GIST KENNETH&MARGAR ' � � , � Page 2 i IPRELIMINARY ASSESSMENT ROLL CITY PROJECT NO. 235 ' CHII.E AVENUE RECONSTRUCTION PROJECT OSM PROJECT NO. 4438.60 ' , SECTION, PARCEL ID. TOWNSHIP& SITE , NUMBER ABBREVI D EGAL DE RiPTION RANG AD RESS OWNER LOT 10,BLOCK 2,MOTZ'S ADDN. LOT 10,BLOCK l,MOTZ'S 2ND ADDN. � lOT 10.BLOCK 2.MOTZ'S 2ND ADDN. LOT 10,BLOCK 1,MOR'S 3RD ADDN. L�T 10,BLOCK 2,MOTZ'S 3RD ADDN. � ' , , ' ' 1 , � , ' ' ' ' ' ' 145TH STREET RECONSTRUCTION FROM SHANNON PARKWAY TO CAMEU AVENUE AND ' CHILI AVENUE FROM 145TH STREET T0 NORTH END CITY PROJECT NO. 235 , OSM PROJECT NO. 4438.60 , , ESTIMATED TYPICAL LOT ASSESSMENT , ACTUAL FRONTAGE = 85 FT. , ADJUSTED FRONTAGE = 63.75 FT. ' SANITARY SEWER LATERAL ASSESSMENT 63.75 FT. *$ 16.21/FT. _ $1033.39 , SANITARY SEWER SERVICE ASSESSMENT 1 EACH *$ 719.53/EA. _ $ 719.33 WATERMAIN LATERAL ASSESSMENT 63.75 F'T. *$ 12.88/EA. _ $ 821.10 , WATERMAIN SERVICE ASSESSMENT 1 EA. *$1125.83 EA. = $1125.83 � ' STREET LATERAL ASSESSMENT 63.75 FT. "$ 53.80/FT. = 42�,.'� GRAND TOTAL ASSESSMENT $'7129.40 ' ' � � ' , ' ' .. f s, ^ ...• j � s�t-� +.; � Y.J� �'�i =':r F j � t,t�:' � � l............_ r '`� t'�,'� 1 ..' ................_............ � � f . iF . . . �. .. � 1 ti i.�w','i....,�w �t..$� . # .......� ;� ��N`j �... � ..�...�.. ._.. � . 4 ;. �� w � � �''e � . t�f � �� .��. , ,� t.g ,.: ,, � ' , s , �, � ;::•f�:� �� ,�.. .., �- �.. � .. 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D R AI N AG E D I S T R1 C T M AP sne�t �o. En iiae�rs• ArcDileeis • Pi�noers �Sne�eron z 12-4-92 � p•r� p�•�•Ceet�r• 5775 i��sata Bou le��r d Yfan��poti�.YN SS4i6-1228 s 612•5D5•5775 ' ' LEGEND ' XX 1991 /1992 ( XX ) 2012 ROSEMOUNT HIGH SCHOOL , `' � �o = 3 �O � ~ Y .-LV O. �p Q � " G O o a- 2 ' � �~ Z �� Z Q a " . Z G "a "� I N J _ 7950 � 6910 ( 16720 ) 145TH STREET ( 14510 ) ' 7240 -- t152001 W ' °�'o. Z �-�n , �,,i ,,, N� Q �O M 0 0 v O q = ' M p�i� �� J oMp� � M N� NO Q " ' � �O �� Z O �� 0� "' °- c.� O� o o " 00 = ' o r� c.� r�� v ' CSAH 42 -. / o� PO� � , ^ � / O Q �' �•�- N� M tD � ' � , ' Drawn By� Drowing Titie Comm. No. � ' orr 443860 � LAM u6yeron & ROSEMOUNT TRAFF IC STUDY � Date� Assoc►ates, inc. AVERAGE DA 1 LY TRAFF l C Figure No. � /� 6/92 Engineera• Architects • Plenaera �Surveyors f , EV 1-12-93 2021 E�st Heaaepin Menue • Ilinsa�pc�u.�H �u» • et2•131•D060 3 ` ROSEMAP3 „J,� ��- �; s ; � � �, McKinzie � Metro ,� . j Apprarsals "BEFORE” AND "AFTER" APPRAISAL OF BENEFITS ' CREATED BY THE ROSEMOUNT CITY PRO�ECT N0 . 235 WHICH INCLUDES STREET , CURB & GUTTER , STORM SEWER , ' WATER , AND SANITARY SEWER REHABILITATION FOR : THE CITY OF ROSEMOUNT PROPERTY LOCATION : 3335 145TH STREET WEST ROSEMOUNT , MINNESOTA BY : �OHN Z . DAHL , M. S .A . �ANUARY , 1993 � � ' ' ----------------—___ � �f -�f3(_.E-: (}i= C`(?N�t�E:N�CS � � � ' � � 1'�(rE-: NO " �� I�I�I�t.E I'-��C�F�: :1�'[� ('C)�`F�:R � � . � TABI�.E: :)F ('C3ti`T��EI�T� � � � � 't PAR"I� I - INTRODUCTION LETTER OF TRAtv'SMITTaL �ND CERTIFICATIO;�' �F VALUE i & `' PHOTOGRAPHIC MOUNTINGS - SUBIECT PROPERTY 3 � ASSUtV�PTIONS AivTD LIMITING COIvrDITI4NS 4 ' APPRAISER'S CERTIFICATION 5 PART II - FACTUAL BAT� � l. PURPOSE OF THE APPRAISAL , � a. REASON FOR THE APPRAISAL 6 ' b. PROPERTY RIGHTS APPRAISED 6 � c_ IaEFINITION OF MARI�ET VALUE 6 ' � 2. OWNERSHIP DATA AND LEGAL DESCRIl'TION 7 ' 3. AREA ANALYSIS 8 � ' 4. PROPERTY DATA a. SITE ANALYSIS 9 b. DESCRIPTION OF IMPROVEMENTS 9 c. HIST�RY AND PROPERTY RECORD DATA 9 d. TAX DATA 9 e. ZONING 9 — —�---- — McKtNZiE METRO APPRAlSALS ?; �; � ' � � � � �I�AF3(,_F�: (1f� ('C)N�}�F_:N C� t��ON i� � � PAGt=. NO __ -- --- ' S 14i�I'S ' a. 1��ETRU AREA LOC:ATIUN N1AP t0 � ' b. DAKOTA COUNTY LUCATION MAP 1 1 ' - 12 c_ SUT3J�.CT AR�A STREET MAP t' d. PROJECT LOCATION MAP 13 ! e. ZONING MAP 14 .` ' f. BUILDING SKETCH 15 PART III - ESTIMATE OF VALLTE BEFORE THE PRQJECT THE APPRAISAL ASSIGNMENT 16 1. HIGHEST AND $EST USE (BEFORE) a. HIGHEST AND BEST USE DEFINED I7 b. HIGHEST AND BEST USE - SUBJECT PROPERTY 17 2. LAND VALt7E (BEFORE) 18 a. MARI�ET SALES COMPARISON ANALYSIS 18 b. ADJUSTMENT PROCESS EXPLAINED 19& 20 LAND VALITE ANALYSIS (BEFORE) 21 COST APPROACH (BEFORE) 22 INCOME APPROACH (BEFORE} 23 MA.RKET APPROACH (BEFORE) 24 FINAL RECONCILIATION & CONCLUSION (BEFORE} 25 - McKlNZIE METRO APPRAISALS , , --- � � �C��f3f.E: Of= C`ON�f(�:� i S_�(�O1�!�t_ � � E',AC1F: N(7 _--. _. 1 I'ART IV - F:S I 1�1,ATE UF Vf�t.�1E ��-TE�R THE T'FiOJEC�-i� 3 � � HIE;HEST .�.ND BEST fJSE (,ak�TER) � 2b '� .�PPRAISER'S COMi�1ENTS & CONCLUSION 27 - 30 PART �` - AD�Etv'DUM APPRAISER'S CQMI��ENTS 31 CQMPARABLE SALES 32 - 34 COMPARABLE SALES LOCATION MAP 35 COMN[UNITY PROFILE - ROSEMOLTNT* APPRAISER'S QUALIFICATIQNS* *INCLUDED IN SEPARATE SALES DATA BOOKLET � � ' � ' � ' i --- -------- ---- McKINZIE METRO APPRAISAL '` ,� , Professional Fulf Servlce r+ppra�sers 2174 Third Street,Suite 20Q • WhiEe Bear Lake, MN 551 t0 • (612}426-7144 ' � � / � I I I � � V NCENT E.WHARTON �S_A. ' II�/CKtfl2fe Metro Ap(3t�IS3I JOHtJ 2.DAHL,M.S.A. JONATHAN G.KRU�GER WILUAM E.McCLELLAN,C.R.E.Q. Serving All Areas of Appraisat Needs ' February 4, 1993 7 � ,� 1 Mr. Bud Osmundson, P.E. City Engineer & Assistant Public ��orks Director ,� City of Rosemount � 2875 145t;� Strzet �'Ve�t, F.C�. Boh 510 ' Rosemount, 1��N 5506$-0510 RE: Benefit Appraisal for � Mawe Property 3335 145th Street West Rosemount, MN � Dear Iv�r. Osmundson, � Accompanying this letter are twa copies of a 'Before° and "After" Appraisal Report for the above captioned property. � As a result of our re uest, I have campteted this appraisal for the purpose of fornung an Y q opinion as to the amount of"benefit" to the property in the form of increase in value, that � results from the street, curb & gutter, storm sewer, water, and sanitary sewer rehabilitation improvement project past the area of the subject property. � My estimates of the market values for the subject property as of January 26, 1993, are as follows: � After: $119,300* Before: $114.500* � Diflerence Shows A Benefit Conclusion Of: $ 4,800 � An explanation of the appraisal proeess, a description of the property, plus a market ' analysis and conclusion, are inciuded in this report. �� *Please refer to the "Appraiser's Con�ments" in the Addendum of this report. '' Members of: AMERIGAN SOCIETY OF APPRAISERS MINNESOTA GOVERNMENTAL APPRAISERS AMERICAN RfGHT OF WAY ASSOCtAT10N � - 1 - PROVIOING A W1DE RANGE OF APPRA�SAL SERVICES , � � t am retai��ir�� a cc��y c�E�this report in ou� fi�es togetheF w�itk� the tieid ��ote�s and actditional � �� data fru�;� ..��c�� rny ap�,raisal has been prepn�e� ' T}�e con�fusions of market vafue presented in this repor-t are co�timVent upon the Li�nitin� Conditians w�hich are inc}uded in Part I of this report. '` Sincerely� _y�ours, '� c 3ohn Z. Dah�, I��LS.A. �� Certified Fzderal General Appraiser (State of Minnesota} License #4��i i Y5 '' h�cKINZIE l��I�TRO APPRAISALS � JZD/cj � 'i '� � , �� ' � � ,� ,� l �I' r -2- �: � ' PHOTOG R APH S ' Property Owner : William C . & �eryl G , Mawe Property Location : 3335 145th Street West , Rosemount , MN DESCRIPTI�ONS � �� '_' � '�� ,�� -,� � ��' �� "� � ' {� ` w` � �.��'"�;�' ;� �� :�,)� i�I . a i �; �r=�,{. nR'i. ,t' ;�.. � � Photo No . � 1 '�� Front view of subject. "� �. - �ir ' '� � � �� .��.. s,.�=�• _ '�+ � k .,,� ' . . . :. � � . . .f . � � . �.'t�.�... �� ,.' i ^ � r� . ..� � .� � ;,' . . . .. . _.... .. . .. ..�_ ... . ... .��.:� a � �' . . . .. . � .. ;' ' ' , ' ' ' Photo By : John Z . Dahl Date Taken : �anuary 26 , 1993 _ McKINZIE METRO APPRAISALS ' -3- , ' ASSUMP7'IONS P�ND LIMt1�ING CONDITFONS � ' --- The property has been considered as though it were free and clear of any indebtedness, ' li�ns, ar encumbrances; and that said title is good and marketable, and competent managemeni is assumed, unless otherwise stated herein. ' No respansibility is assumed by the appraiser for matters which are legal in nature. No � survey has been made, and it is assumed that any imgrovements are located within the � legally described property and that the huildings, if any, comply with atl ordinances. ' An sketches and ictures in this re ort are included mainl to assist the reader in j Y P P Y , visualizing the property, and are not guaranteed to he 100% accurate. � The appraiser has no present or contemplated interest in the praperty appraised, nor is his employment in any manner cantingent upon the value reported. Possession af the report, or a.ny copy or part thereof, does not carry with it the right of publication. Further, all of the data contained herein must be used as a whole. Any page or portion taken out of context cannot stand alone, and invalidates the entire appraisal. The appraiser herein shall not be required to appear in court, or before any governmental body by the reason of tfie completion of the assignment without predetermined anangements and agreements. The data contained in this report is in no sense guaranteed; but has been gathered from reliable sourees, and the appraiser certifies that to the best af his knowledge and belief, the statements, opinions, and materials contained in this appraisal subject to the ahove limiting conditions, are conect. Any cost data used herein is taken from charts and material maintained in our office and eonstantly kept up to date, based upon local labor and material costs in and around the area of the subject property. Neither a11 nor any part of the contents of this repor� shall be eonveyed to the public through advertising, public relations, news, sales or other media, without the written consent and approval of the author, particularly as to valuation conclusions, or the identity ', of the appraiser or firm with which he is connected. ' Soils tests for contamination can be very costly, and are not the responsibility of the appraiser. Without asiy test results, the property is assumed to be free of any soil or water cantamination. If later tests were taken and any contamination were found to exist on the site, the appraiser would reserve the right to revise his appraised values to reflect the newly discavered factors ' � ' -4 - � � ' ' APF'R.A(SL�IZ'S CERTIFICATI�N This is to certit=y that the undersi�ned has rnade an external inspection of the prQperty ' de�c;ibe� as 3335 145t►� Street ��'e;t, lo��te� ar, the north s;�� of t45th Strezt West, and a few blocl:s west of`the Rosemo�nt downtawr�business distr►ct. ' The appraiser aIsa eertities that all tindings, statements and opinions submi#ted in this report are ca;rect to the best of his knowledge. This appraisal has been prepared for the City of Rosemount, for the purpose of estimating the present market value of the subject befare and the benefits to the property after the completion of the street, curb & gutter, sanitary sewer, storm sewer, and water � improvement project. The valuation estimates certified below are not contingent on any monetary fees or interests whatsoever. The appraiser has no present or prospective interest in the subject property, and the fee agreed upon is in no way related to or conting�nt upon the value reparted. It is further certified that this appraisal has been made in conformity with generally accepted professional appraisal standards. The market va.lue af the property as described herein and subject to the assumptions and limiting conditions of the report is certified as of January 26, 1993, to be: After. $119,300* � Before: 114 500* Estimated Value af Benefit: $ 4,804 CERTIFIED BY: John Z. Dahl, M.S.A Certified Federal General Appraiser (State of Minnesota) License #4001 l46 McK1NZlE METRQ APPRAISALS *Please refer to the "Appraiser's Comments" in the Addendum of this report. ! - McKINZiE METRO ARPRAISAL ' �� -5�- � ' ' ' { f'F (ZI'(�SI: (?�� (�i If:: APf'f2AIS.At. ' �� REf�S()N FOK TtfE APPR��IS%�l This a�praisal i��s be�r� co►1��leted ti.�r the purpose of esti►nating the rnarket value of� t}�e subject property, bef�re a�«�f a�te� the improv�ement �roject to arrive at an apini.�<< '' of the benetit to the property b PROPERTY RIUHTS APPRAISED Property rights appraised in the "before" appraisal are atl of those rights tnherent in fee sirnple title. The "after" appraisal also considers all of those rights inherent in fee � simple titte. ' c. DEFINITI4N OF MARKET VP.LUE: Market value means the most probable price which a property should bring in a competitive and open ma.rl:et under all eonditions requisite to a fair sale, the huyer and seller, each acting prudently, and knowledgeably, and assuming the price is not � afPected by undue stimulus. lmplicit in this definition is the consummation of a sate as , of a specified date and the passing of title from seller ta buyer under conditions whereby: (1) Buyer and seller are typically motivated; (2) Both parties are well informed or well advised, and both acting in what they consider their own best interest; (3) A reasonable time is allowed for exposure to the open mazket; (4) Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) The price represents the nonnal consideration af the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. � -- McKf NZIE METRQ APPRAfSALS � -6- , � ' ' ? f3V�'tiEIZSHIF UATA �INL� LEG.�L. DESC'Itii'TIU� ' (J��'NF�KSHII' Th� s:Ubiect pra�e�y is ow�r��d by �'�'illiam C. �. .{ery•i G. 149a�ve. � LE�iaL DESCRIPTION: AUUtTORS SUBDI�'ISION NO l PT O�' LOT 6 COM 33 FT N & 1850.5 FT W OF CEI�F OF SEC 29 V4' t 10 FT N 15Q FT E 110 FT S 150 FT TQ BEG. 1 , , ' i ------ ------- ---- McKiNZIE METRO APPRAtSALS �� - 7- � ' ' � �REA ANALYSIS ' The subject is located on the nart}� side of 145th Street �1�'est and a few� blocks west of the Rosemaunt business district. I�Sth Street West is a main east-w•est artery and the area is ' an older established residentia( neighborhood. � � 1 � t � � � ' � � � � � � � � -- — McKtNZIE METRO APPRAISALS � _�_ � ' _� -- 1 4. PRC)PF:RTY_BAT_A �' a �ite Ar�aiYsi� T�i2 Sit2 iS iOCai2u Oi1 ��"i� CiOrth Sit'�2 Qi ��Sr}7 S�reet �'�'es� 1i�� 1iaS i ��i ��t O� ," fronta�e an 1=�Sth Street West, is 150 feet deep, and contains 16,500 square feet. The site is ievel ard has several trezs. � '� � b. Descriptior af Ir;�p;c�vzments: � So as not ta cause an inconvenience to the homeowners, the City has asked us to anly view the praperty from the street, which is what we have done. � The hame is a rambler type home with wood siding and asphalt raofing. For the purpase of this appraisal we are using the assessed value af the home, and smce that value is usually on the conservative side, we are increasing that value by 10%. � c. History and Property Record Data: � The County records indicate that the home was built in 1956. � d. T�Data: The Property Identification Number is: 34-03700-130-06. �� r' Estimated Market Va1ue is $16 SQO for the land and $83,800 for the The Assesso s , building, or totally $I00,3Q4. The real estate tax payable in 1992 was $1,326. 1�� e. zo��: , The subject land is zoned R-1, Single Family Residential. � � � � � � - - - McKINZIE M€TRQ APPRAISALS ' -9- � ' � , � � '• 4 • • � { � / � ., f• '�'i � ' • , � . 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' : : : : : . : : : : . . : : : � - . . . . . . � . . � . . . . � . . . . . f . . . . . . . . � . � . � . � . . . . � . . . . : . . . . . � . . � . . . . . .�. . . . . . � . . _ . . . . . . . . . . . � . . . . . . . . . . . . . . . . . . . . . . . . . . . . � . . . . . . . . . . . . . � : I : - : - - - - � : I : . . . . . . . : (:�: : : : : i : : : : : - : - � - : . . . . : I �: : : : : : : : : : : : : : : I : : : : : : : : : : : - - : : : i : SCALE: 1" = MEASURED BY: DATE: � BASEMENT: = Sq. Ft. 1ST F�OOR: - Sq. Ft. � 2ND FLOOR: - Sq. Ft. 3RD FLOOR_ _ - Sq_ Ft_ � PORCHES_ = Sq_ Ft. DECKS: _ Sq_ Ft. GAR�IGE: = Sq_ Ft. � OTHE�2: = Sq . Ft. � McKINZCE ME��O APPRAfSALS ' ' ' � � � 4 PART III ESTIMATE OF VALUE BEFORE THE PROJECT ' � � � II ' � � THE �.PPRAISAI_, ASStGN14`(ENT � � '' _-- _ _ __ _ ___ __ ' The purpose of the appraisal is to estimate the benetit derived from a project describec� as ' tollows 1 . Street improvements including repavin� and the reconstruction of curb and �utter. '� . 2. Storm sewer improvernent. � 3. Sanitary sewer improvement. € 4. Water improvement. � � � � � � I - - -- McKINZiE METRO APPRAISALS � __ _ _ ----- -- - ---__ ._ ------ � � - 16- ': .�; � , I. HIGI-IEST_AND_BES� USE�BEFORE THE PRC}JECT� ' fin -- a. H�ghest and Best Use De ed �, ' Hi�hest and Best Use is defined as That reasonab}e and probable use that witl support the highest present value, as detined, as af the effective date of the appraisaL � Alternatively, that use from among reasonable, probable and legal alternative uses, ` found to be physically possible, appropriately supported, financially feasihle, and which �° results in highest land value. . � b. Highest and Best Use - Subject Praperty: � ,, The subject property is zoned R-1, Single Family Residential. The highest and best use � of the subject property is for a purpose similar to the current use, wivch is a single '' family residence. � � � � ' 1. � 1 1 __ _ -- __- --------- -- - McKlNZiE NIETRO APPRAISALS ' - 17- I , 2. LAND VALUE (BEFORE THE PR4JEC"� ' The land is first vaiued as if it were vacant and available for development in accardance ' with its determined hi�hest and hest use. �' a. Market Sates Comparison Analysis: It is commonly considered that the only meaningful method of appraising unimproved land, is the Market Approach to Value. The basis ofthis approach is the cansideration ' that a buyer will pay no more for a property than the price at which he or she can � purchase an acceptable, similar substitute, (also called the rule of substitution). ' The Market Approach is completed by researching sales of similar type properties ta use in a cQmparisan analysis with the subject land. The land sales considered most comparabie with the subject land are then selected for direct comparisons. Each sale is then individually compared with the subject, with plus and minus adjustments applied in accordance with the value influence. Each land sa1e, after the adjustments have been appiied, wilt provide an indication of the subject land value. The subject value indications are then reviewed and provide the basis foF the finat conclusion of value. '� I have included in the Addendurn of this report, more data about each of the land saies used for the direct comparisons. I have personally viewed the land af each of those � sales. ' The sales chosen for the direct comparisons with the subject, were selected because of � their better comparability with the subject. ' � ' f 1 1 1 -- � -- --McKINZIE METRO APPRAISALS - i8- ' ---- ___ _ _ b. Adjustmc:nt {'rocess Explainecl I T he pages that follow include an "/\djustment Comparisan C�rid" C)n that grid, adj�,stments are applied for dissimiiarities fc�r a nurr�ber c�f considerations If the ' subject land is judged to be superior to the tand af a sale, a plus adjustment is applied to the sale price in an amaunt cancluded by the appraiser ta best reflect the ' extent of the subject's superiority over the sale. Simitarly, minus adjustments are applied to sales prices where the subject land is ' judged to be inferior to the land of the sale. ' I. Time: The time adjustment is applied to adjust a historical sale price to an expected current price. Price increases in the general form of appreciation are '' reflected here. Fram m anal sis of sales discussions with Reattors and � Y Y , develapers, reviews of P✓1LS sales summaries, and other research, I have � concluded a reasonable time adjustment to be 4% per yeaz, (compounded), from the sale date ta my value effective date. 2. Size: My comparisons are made on the per square foat or acre unit basis. �n this basis, generally, as the Iot size increases, the unit price decreases_ Lots tha.t are SQ% larger than the normal size in an area, will not sell for a SQ°!o higher price, all other factors being the same. Size differences are adjusted for here. 3. Shape: in general, very narraw lots with exeessive depths are not as desirable as wider lots witn adequate or good depths. For e�:mple, a 200'wide lot with a 200' depth, woutd typically sell for more than an equal size lot 75'wide x 266.67' deep. Irregular shaped lots that include sharp "poi.nts" that are difficult to effectively utilize, aze inferior to rectangular lots. Shape differences are adjusted for here. 4_ Topography: Generally relating to the terrain features of the land_ Lots slightly higher than the street, and with slight slopes to assist good drainage,are superior to those below the street, or superior to flat lots to the extent that drainage may be poor. Lots with steep slopes are also inferior to those without steep slopes. Topob aphy differences are adjusted for here. 5. Location: For residential lots desirable locational characteristics might include such factors as; neighborhoods of curving streets, slightly rolling terrain, smooth paved streets, curbs & gutters, newer well maintained homes, good accessibility, convenient to centers of employment - education - entertainment - shopping - medical - chureh needs - etc., quiet & free of non-residential land uses. Undesirable residential locational characteristics might include: neighbarhoods of, difficult access, dangerous high speed traf�ic; unsightly,poorly maintained properties, noise (from any of mar�y p�ssible sources), odars, high traffic volume -- - -- McKINZfE METRO APPRAISALS - 19- , --------------- -- — ' routes, unprotected frorn non-residential use encroachment (cammercial - industrial - etc.), and ather Re�ative influences. Location differenees are adjusted for here. , 6. Utilities - Street Tm rovements: Plus ad�ustments are a lied to an sate where the P ) PP Y subject land is judged to be superior to the land sale with regard to any or several ' of the following faetors: pubIic water - public sanitary sewer - storm sewer-good quality paved streets, curbs& gutters, natural gas, electricity, etc. Minus adjust- ments are applied where the subject land is found to be inferior to the land sale for � ' these considerations. 7. Special Assessments: E�sting special assessments against the subject land, ar the ' land of the sale(when assumed by the buyer and not aiready added on to the sale price}, are ad}usted for in this consideration. , 8_ F'i11-Grading- Subsoil: Lots with poor soils, or with wet areas, or in need of fill or grading would be considered inferior to lots thai are higher, well drained, and ,Ibasicatly ready for developrnent without the added costs of filling, grading, or giving up areas to marshes or swamps. Plus ar minus adjustments are applied � here for such observed d.issirnilarities. , 9. Zoning: Adjustments are applied here for existing zoning di.fferences to reflect the � affec# (if any) on value. ' 10_ Others: Adjustments could be applied here for any existing waterfront ameni�ies, or "special views", or such. I have adjusted for "tree cover" differences here. My adjus�ments here take into consideration such factors as: density of trees, (how wooded is the lot?), species, {oaks or maples or birch or pines or cotton- wood or elms, etc.), location, (where on the lot are the trees?), health of the trees, and what do the trees actually do for the lat? A final word on these adjustment factors; . There are no tables that one can refer to that will provide the appraiser with directions as to when to apply adjustments and how much of an adjustment to apply! It is a result of the appraiser's learned analytical skills from years of experience, and must be ' reasonable, logical, and consistent. ' In the "a.fter" appra.isal particular attention is given speeial adjustment changes, (from those used in the "before"), to reflect the discussed affects on the subject property that result from the taking. s - McKINZIE METRO APPRAISAL 'i -20- '* , t l� Nf) Vl1LElE= 11NAl_YSIS � BEFORF ) �_�� own� WilIi�n C. & Jeryl G_ Mawe ��o�;�<<�, n�i��,�,;; 3335 145th St. W. ' ----------_ ------- _ - f�o�r�po�able �Vroper(tes ----- — _. _ -7 _ _ . _-— �{ _ Comp..n.on No. No --� c -- �-- N�----��"- -- No._�--- ' . . —_ .._— �� . D.« o� s.<< 1/3/92-- --------- 1 22 92 ---_ - - 10/23/91 --- n d a«s= 198Q2 Cav i on Ave 3915 1 �-��_ Rosgna.��t ' Lot 5 Blk 2 Lo Loi. 7 B k Lcdal Qcsctiption ��lltcn 3rd Carrollton [! No Address �C�(l. �C�l Tcrms or s.�� C,ash uivaleRt Cash ival '' G r a n c o r ,�J$ftTi�C,f(1t ROS6Tt�l,6"(t . Granccc 1 .,If1C_ �115'Tidfl . I1lC. ? Salc Pticc � � • '" Subjccc Fronu � lI0' �� '� �� x ti�P�h 150` Av . 122' 140' � � ,�«�,sq. '' F`_ 16 50� S.F. 10 370 . Ft. 1 �: 7o�i�,� R-1 Si , a�n. R-1 Si le FamRes. .:R-1 Si - un<< s.�� P�;« p�t . .112 P�er Sq. Ft_ $1.777 Per Sq. Ft. $1_605 Per Sq. Ft sq. r�. r. r.. �t�_ Ad�usted Per Site 'u Adjuscmcnt �djuscmcnc Adiuscmcnc Adjux[mcn� lccros Plus tiiinus Plus hSinus Plus Minu� Timc 1�3 Sizc � Jh a pc Topography Loc3cion u��<<;« s<«<< �m . 627 597 Spccial Asscssmcnis Fill; GradinR-Sub Soit Zoning Toul Adjuscmcnt rt�� na;��m«� +$ 1,314 +$ 1,254 +$ 1,401 u�� s.�� p��« or comP3�.b<< � $21,900 $20,900 $19,900 . Unir Salc Pricc ot Comp. Adjus�cd �o s�b. $23,214 $2'L,154 $21,�1 ESTIMATED VALUE OF LA[�(D IV SUBJECT PROPERTY OI�I BASIS OF COi�iPARABLE hiARKET DATA: 16+� squnrc (ect- - at Per Site - s22 25(l c o ti+n�E_r,��s 7ne ad justr►�nt to the Carrparabl e Sa 1 es have been made on a Ger s ite bas i s (tota 1 sa le pricej rather than per square focrt_ This rrbst accurately reflects the aray in w,hich residential lots are ba�ght and sold_ Because a l l thr�� ;��l es a re very s i m i l a r; I ha ve r�l i Ec1 on a t l of tt�n i n reach i nc� the � final estimate of value_ � I � �, ,.,, ,,- Jotm 7__ �_ �hl � January 20, 1�992 I , � -21 - M�: � �r,liE M�� i ►�� nE��►ini �� n � ��, ii ' � . � �. � � . . . ' C_OST APPROaCH___BE_FORE As outlined earlier, at the request of�the City, I have not measured or inspected the house ' so as not ta inconvenience the residents. The reason for this is that the improvernents were not considered to be af�ected by the project'to any signifiicant d�gree: Therefore, the Cost Approach was not completed. ' '� ' , 3 ,� ' � ' --- --_. ----- —McKINZIE METRO APPRA(SALS 3 � � -22- � ' , INCOME t�PPROACH - BEFORE ' Because this is a single farnity resrdence not rented and owner occupancy is typical, and in my apinion the highest and best use, the Income Approach has not been employed in this ' appraisal. '� '" � , � '' � � � , � , � ' 1 l 1 1 � � � ----- _ __ ___ _ _---------_____ ------ McKfN7_fE METRO APPRAlSALS— � -23- � ' -------� � ' '��I�;:�F� APi';ZJACY -BEF�RE ' DU2 t0 ��'ic (�i.ii��52 �i i�ii� aj7�3iniSni �c1i ii2i 2\�ic1i��2C�, anu �h2 iaCn Gi 2vi�cl'iC� �riai i�i� subject imp�ovemerts wil{ he signitieantly impacted by the improvernent project, the ' Market Appraach w�as not compieted for the who3e property including land and improvements. �i , To inspect and appraise the impravements under such circumstances, tends ta cause unnecessary inconvenience and privacy invasia�s to the property owners, and increases unnecessarily the project appraisal time and costs. ' To work with a whote ;o ert value before and after the im ro�ement ro�ect we wi11 P P Y P P J � a use our land value conclusion which was derived by a�Vlarket Approach, and add onto ,� that the local assessor's value for the improvements. The assessar's values are also derived from thz area market, but usuaIly considered to be � an the e�nservative side, so we will add a 10% factor to their improvements value before we add that to our land value. � Land Value Canclusion from Page 2I = $ 22,250 Plus Improvements (Assessor's $83,800 x 110} _ +$ 92,180 � Tota1 Property Va1ue= $�14,430 � B The Market A roach "Before" The Improvement Project Y PP ' � 1 j � '� 'J � � � _ ---- McKINZtE METRO APPRACSALS '� I� -24- � ' ' FtNAL RECON(:ILIATjUN AND_C'ONC'LL�'SIC?�_- _BEFURE ' The Cost �pproach $ -�- ' The Income Approach $ -Q- The Market Approach $1 14,430 '+ •� The final estimate of value using the appraised value of the land plus the assessed value of the im�ravemznts plu� 10% - before the improvement project is: r� ONE HUNDRED FOURTEEN THOUSAND FIVE HUNDRED DOLLARS '� ($114,S OO.Q0) ' � ' � ' � ' � ' � ' � � ' � � � � ' f — -- McKINZ1E METRO APPRAISALS , -25- 's , ' ' ' � '! � � � � PART IV ESTIMATE OF VALUE AFTER THE PROJECT � � ' � ' � t 1 1 l � ] !� � 1� � ' ' HIGHEST AND BEST U,SE (AFTER THE PROJECT) ' The highest and best i�se remains the same after the project as before '' '� � � � � � � � � � ' � � ' I --- _ __ __ __ _ ---_____ _--_---- ----- ---.---M c K I N Z i E M E T R O A P P R R t S A L S '' -26- '� ' ' APPRAISEF�'S_COMMENTS REGARDtNG THE APPRAISAL OF THE I'ROPER"IY °AFTER" THE IMPROVEMENTS ' - --- FINAL AFTER_VALUE AND C�NCLUSION On the preuious pages of this report the subject property has been appraised as it exists , prior to the planned improvement project `� After completing the appraisal of the property "before" the improvement project, the next ` step is to consider the improvement project, what it means to the subject property, how # the subject property wi11 be affected by the improvements, and ultimately how will the ' changes to the property affect its rriarketability, or its fair market value. � The question becomes; in what ways has the subject property been changed by the � improvement project (outlined earlier in this report), and to what extent do those changes a.ffect the value of the subject property? ' � The bituminous paving was patched in places and in need of repair. The new paving and new concrete curb and gutter will have a positive affect on the aesthetics of the neighbarhood. Driving will be smoother and more pleasant. The new curb and gutter � gives a nice straight edge and is an improvement over the "before" situation where the curbs were deteriorating. � At this location the water and sewer projects have a far less visible affect. Buyers are far tess discriminating about the upgrading of this type of infrastructure. It has been our j experience that questions regarding this type of infrastructure are rarely, if ever, asked, ,j whereas streets can be seen and opinions formed. Another factor to consider is that the improvement project is on and in 145th Street West, which runs along the north side of '� this property in front of the house, which has a greater affect than if the improvements were on a side. '� Cansidering that there has been no change to the subject property itself, within the boundaries of the property, there are only a few places in the valuation process that are logical to ad}ust. They are: '� 1. The value of the land that has been used �n the Market Approach ts pos�t�vely � � affected more than the improvements. Because the "location" is now better due to , the sidewaik, curb, gutter, and street improvements, a positive adjustment can be I made in the "location" section of the grid and/or to the "utilities and street" section � of the land brid � 2. The improvements have a lessor percentage adjustment but al$o have a positive I�cational adiustmcnt attributable ta the project � a _ _ ___ . __ - __ __-------__--- ---.___--- ------ McKlNZIE METRO APPRAISA�S----- i � -27- � � I ' The cumulative chan�e is relatively minor and can best be termed as an improvement to the aesthet�cs of the �mmediate ne�ghborhood ' If the change to the property were more profound such as providin� public utitities to the property, which it did not previously have, a before appraisal could be completed using sales, that like the subject, tacked the utilities, and an after appraisa} couid use sales for a ' comparison analysis that had the utilities. This does not appear to be the magnitude of the appraisal situatian here. I have therefore made the adjustments as outlined above. The ' conclusion in the "after" situation is as follows: , � � � � � ,� 1� , 1� � � � � � � � � � � � � 1� � . � - - -- - McKINZIE METRO APPRAISALS— – --- -------____.__- � - 28- � � � � � L �NE) Vf1l_UE- f1NA LYS l � ( I��TER ) � � Fcc U�++nc� _ Wl�llc�(Tl C' �t `�21��_Ci'_�We _ F'roperly Acfdres: �33�J 1�J��f1 �t._ W_ ' -- __ _ _ _ C�ompnr�blc Yrvpcctic�, __ _ -- — --- _n� _ --. .. ' �Comp.r�.on No No. � ..... - No __ _�_� No- IS -- --- — --- --� --- -- o.« �� s.�� 1/3/92 1j22/92 10 23 91_ _-- n d a«3� 1�02 Covi Ave 3915 1 Rosgrbunt ' Lot 5 Blk 2 L Ldc 7 Blk �`a•� �"",P"�" Carrollton 3rd Carrollta� If No Addre�s �Cl. �tl ,; Tcrms or s.i� Cash ivalerrt Cash ival�rrt � Grancor �SHii�I.IfTt {�OSHfl�l9'lt .� Grantcc 1 .�IC1C. �'f151'Tldf1 IC1C' 'fSalc Pricc , � ! Subiccc Fronu c ll�� '� ' �� Dcpch l�� AV . �� 1 t � � Arc:,S9- F`'�" 16 500-� S.F. 10 370 . Ft. 1 �: 7_o��R, R-1 Sl . at11. R-1 SI le FamRes. ..R-1 Si - � u�<< �.�� P<«< p« � �: 2_112 Per Sq. Ft_ $1.777 Per Sq. Ft_ $t.605 Per Sq. Ft sq. r�. r. r.. «�_ Ad�usted Per Site 'u Adjuscmcnc /�djuscmcnc Adiuscmcnt Adjuscmcnc � iccros Plus bfinus Plus hfinus Plus Minus T i mc �� I�3 s�Z� 1095 1f�5 � Jhapc Topography Locatwn Ucilicics Succc Im _ 1�j33 '� Spcciai Asscssmcnis Fill; Gnding-Sub So-it zoninR ,J � Tocal Adjustmcnc • ' tJcc Adjustmcnc }� 3��Q. �}� 3�� +$ 3 391 Unit Salc Pricc Q�� yy� o( Comparablc �i f� �V?900 $19�7V11 ,1 Unir Salc Pricc of Comp. Adiustcd to $ub. �j�QQ� �4�`LQ4 ��1 � ESTIMATED VALUE OF LAND !V SUBJECT PROPERTY ' ON BASIS OF COASPARABLE hiARKET DATA: 16+� squorc _ ot Pet^ Slte = S 24 300 ; � ---------- —--- -------- ------ : co,��n�rr,-�� The adjustment to the Carrparable Sales have been r�de on a per site basis (total sale pr i ce j ratt�r than per square foot_ Th i s most accurate l y ref l ects the u�ay in HA�t i ch res i dent i a l l ats � are lxx�it ar� so I d. E3ec�use al } thrt� sales are very similar, � have relied on a11 of tt�n in reaching tt� final estin�te of value_ �� ;,�„ ;,.; J�lm Z_ ik:f�I � Jailuary 26, 1992 � ` „ . ,. . -?_9 - ,. . ! � rn� KFNIiE M�� FZt� n��>E�►�nisni �; ' � FINAL CE�NCL�`SIO�v � � ' Tt;e �'�st and Inc�me Approaches to �'alue have not �zen e�pfc,yed in Ehis appraisal for tl�e reasons autlined in the "bef`ore" situation. ' The 1�4arket Approach w�ith the adjustments to retleet the "after" situation is as fatlows: Assessed Value of Improvements $83,800* � ' x 1.10 = $92,180 x 1.03 to reflect the projects , impact on the improvements at this location= $ 94,945 '� Land Value from the "Land �alue Analysis" Grid "Af�er" _ $ 24,304 � � Total Land and Improvements After= $119,245 Round To Say: $119,300 "After" � � *Piease refer to the "Appraiser's Comments" in the Addendum of this report. � � � , '� � � l 1 � � — ----------- McKINZIE METRO APPRAISALS � -30- � ' ' APPRAISE.R'S C'C)I�1�1ENTS ' 1 discussed the method �f a�proach to the �aluation of�the i��rprovements w�ith Mr Osmundson, the City Engineer It was decided so as not to inconvenience the residents ' with the full inspection pr�cess, that we would use the assessed valuation for the improvements, Because that assessed valuation tends to be on the conservative side of market value, we have increased that amount by ]0%. ' By following this process it allows us to work with the tota] property including both the )and and the improvements. '' �� ,� �� '� '� �� _.. _ ____.___ - _ ------- McKINZIE METRO APPRAISALS-- ' -3I - ' ' ' COMPARABLE LAtv'D SAI,E NO. R-� INFORMATIQN SOURCE: Certi�icate of Real Estate Value ' LOCATION: 19802 Covington Avenue, Rosemaunt, MN ' LEGAL DESeRTPTION: Lot 5, Block 2, Carrolttan 3rd Addition ' DATE OF SALE: January 3, 1992 BUYER: The Windwood Co., Inc: ' SELLER: Rosemount Fro e i p rt es of Minneapol�s '� UTILITIES: All typical of city � TOPOGRAPHYISOILS: Flat and level land with good soils ' SIZE: 85' x 122' = 10 370 S . Ft. � �E � SHAPE: Rectangular , SALE PRICE: $21,900 � TERMS: Cash equivalent � STREET OR ROAD: Bituminous � AMENITIES: New residential development ' REMARKS: There is now a new house an the property. I� ZONING: R-1 ' , Smgle Family Res�dential ,.. � •. . . £� ' � �' �F ' �'.t ;r"�� 2' x s Y'- r� i J y � � � . .k`.J•�... . . . ,. 1 . . . .. - ` . . , 1 l } t. � � _ _ _ 1 ' - _ . Y� f� .__' .' -"� �. ;'? +�y�� . . � . ��. `w '-.-r'VI��4�' � .1[. - " "_ '1n . �A.. . . ' `'_ _ -�.. ' . _ ..��.... 'Y�ww:�� . .. . '� .... _- .. . .. .. ..., �^i'AreM.. `y ..._. -~.. ... r w "�a� -�. �•+�"�"�•ys�` -32 ' , �OM�'A�RABLE LAND SALE NO_ R-3 ' INFORMATI(}N SOURCE: Certiticate of Rea1 Estate Value LOCATION: 3915 147th Street, Rosemount, MN ' LEGAL DESCRIPTION: Lot 11, Block I, Carrollton 2nd Addition DATE QF SALE: January 22, 1992 '' BUYER: Wensmann Properties, Inc. ,� SELLER: Rosemount Pro erti p es of Minneapolis �� UTILITIES: All typical af city TOPOGRAPHY/SOILS: Flat and level land with good sails � , , _ SIZE: 84 x 144 — I I,76Q Sq. Ft. � SHAPE: Reetangutar SALE PRICE: $2Q,900 � TERMS: Cash equivalent � STREET OR ROA.D: Bituminous � AMENITIES: New residential development REMAIZKS: There is now a new house on the property. � ZONING: R-I i , S ngte Family �4_'j: � . . � . . . . � �{ )v �� v�, A�� f�'y';j._-.`_. . � } ��i•, � � . . . . ..�'� .:... . , . . ' - . . .� {E{ �. . . . l � � � ' ' } .�.+.� . �.. � _ u:'C.�. . _ .� . ,� ... .��.,.� �� ` � _ $ '°'� 4��x . i . �5. 5.�,. . - '�` f.. , .�'4 . , _ -. �.- "f'_w A .. . .�>°' ,N� :'!.... :1 V aJ�d� . -33- ' ICOMPARAgLE LAND SALE NO. R-4 ' INFOR1VtATION SQURCE: Certiticate of Reat Estate Value LQCATIQN: 3938 149th Street West, Rosemount, MN ' LEGAL DESCRIPTION: Lot 7, Block 3, Carrolltan 3rd Addition ' DATE OF SALE: October 23, 1991 BUYER: Basic Builders, Inc. � ' SELLER: Rosemaunt Properties of Minneapolis , UTILITIES: All typical of city � TOPOGRAPHY/SOILS: Flat and level land with good soits � SIZE: 8Q' x 155' = 12,400 Sq. Ft. '� SHAPE: Rectangular ,� SA.LE PRICE: $19,900 TERMS: Cash �� STREET OR ROAD: Bituminous '� AMENITIES: New residential development REMARKS: There is now a new house on the property. �I ZONIN�: R- 1, Smgte Family _�,_. _.�� ' ' � - -_ ' � .� :, '� �, — ,., � - �;, u�: 'J � 11 � _ � � s �� ,.� .r._ ��: � }��:,. y; � .- � --� ,�,��z �� -_ , �� V r�, : Q ,�_ �' :t � �, -"'�� '�'� '� '� � '�i """� :1,1s✓ ,S- .�... .�- ... � �..:- � " -34- � __._ �,,,,,�,,,,r,� �r� �� --� --� -� _:r � � � � � � � � � � ; ., , ; � �,� �,� ,�+rp^�a � p �'+�Q PILOT tCtdQB R� ' � ; u= � � �� a .. :: o ` aye :�acf'a'' � � :• W oe Ct� �2D:31 �,�IQ�i 4 _. - — o� AVC. � : �DVRNINGAV�TZEI w � 8�R � Q � r^a h � � �.>::;:%•`:;':: p — , , .��•.:s>:::::;. � - — P ; > „ . .•�::��;<;•:: _ veu i � ., :�" �' � Y,(�o f9 � •,zs`e�z:;:•<�,: - � a �. o�� r r«o� � 4^. , z �e:,"''ae;. > ,� o cr 8 �[y6. a • �� t '�,1 2;.y`,��,''..'.' 8 `� , ? n. Ao k " � � {7 �+r'� t� � s "S�i .�''; � � `I�(�' G �-' � •y n �5>,�:!;�r,••N �, i�' � � . �'^O . ; C�� v � ; A� � . h� oo : 1"w �r y� p v+ cr�i .. ':.::�:f�;:' . , o n." i r� 2 A .Z''•' ', '?� � � "" � � . . p �7 > � � 4 � . • '} �"� DRf=� p � .� 1. s 1�7T p f� �:: . M � � .,� . 4 P A Q � \ fN� p O > � � �. � M X � ^ t+�'�. d O DUNDt ' 'K�.j':,Gy�:+.°�,,�'.'.i'�j�� ..�� C/ ^� �. A CIR W�,�„ �0 Y � ,.� � + O ! . [AY • .�.,.•. . 4 � ' • � � ., s .� a w � s a � A Y t1� � S� J � � .�:y.+r.;if,6,:,•f:l,�� ..+yl'�� t � � : �' ORlft � � . « Q� b N ,� ' � 0 r � :ni•F.l,:;y+,S:%<:e�: �` -� A D U ? 'F� „c � �� y ' y� G »:'t::v:�i s� ;: O � � � k .:: . ansa��rt o 4 � •:: _ . n y . CO�M N .�y � � ■ � DOMiHICA A�E, �� # ...t:. t... �. �� M WAT � M � . . . . � n, • � . . . � � � D[AR� A� Y1 .t.tf� Y. � � � . C7 � DELf2�2 n A a � � `�p� = z � '� , _ � �� OMJ E U CT . § yW ±,� �� y i� � �,� o ,�� N � 3 � � � AYE. AVE. ( OEKAI!� � � m 1Ay� ��r -1 w �. : � .`J �t ,� l! �'E.g�� DANVIItE � . � � s ; �� '� � K �n � � � � J i f ,��rt _ �T � prff(�C ��f. � AYE� . 9 OAVENPORTrS� CT� 2 i ; S�� 4 oANnut i . " j DANdUIlYMIAY��:�� 2' o Y .v 0 j.)� H � m . � '` pA NE tA Avf z. . �'7 � N � _ � 1U A t 1��{� DANUlE lA � I C � �° � � <F y D.Vr� � DANYI�LE AVE y� �T � q� � � fJJ AVf �x y ,� A � � e s� WIN riAY I77iN � I .� ; s K „ � 0'� AMAS u� � � �H�.� Ct „ r � a 9 b� N Mtv�,�p i:;;yE. = W 'r. ��ho�� oAneunr er ; — — — 4�� — — _" ._ i rn � .(1Cr� OAIIA� oi ' G� �' � . SF1AlINON PK � rA �F � � a .�. 9y ]> ron[ rr " N CRES C ryt � �HANNON PKWY� ; N � rn � -� �� TMMAY �MA CIR y Ct . GJ ' cr � �� IA IIA� �p �r[ � q � �aaa ■ J,y � g (!> � " *r+�i�o� OIVM{ART d� Con �r �� ^N+ Y � y. '9,y = N �^- t � '� }o eoee�(e r.v[ � I 'l�Q -� O . /� URfT h�'[�„ GIMM� AVE. �rAn AV[. CIMARPON AVE.. A. � (� Q � N i 'Y � z w J t 1 C > � � � � � cKr c � z -�i �'7 c.HAr �[ IlY ys � w, d� A Sl�hf U I .-i N x " r � � x � A .� . . . y .� y y � . ,RD, 4� o y � �._ --- � CHI PEN ALErA E. W� NORIE ��v�, N c"'"c"'u""vE � � � ti At[AV . I N � R D. 39 p - f1 � • �Vt H N11 � t�ill ev � � y . CHINCH11.lA CT � I � O ~ � O CNA~ StOM � A = V � �� E�� O I ~ Cy'� � � D ,, R� y o � v N. w�r� � „a = _ . n : ` = y o. . , ��o.. e�+ . p o��N y . w = er,An��t� �S��g ,. _ � I H i Ck�R� 1'ON f o � ��, s� _~ , . ,� -� Cl o •) 4'N�C �vt, OA '" � VC k3 y I .,y . UNADA AV[. � � -1 ';�... y 8 . �+ . • , N ^A . �` � O CAMlItIOCIII � y f i;•,;�' .. �* z x � � � —. W ( � C�M[RO U � � I ; I � CAMtR1AN .N,� �AMEO AVE. A � x �O� � N AVE. .` � � T� '1� — � � � 0 W �Q e vE.>��':� ecvnor Avt ROBERT TR. S � O � 6U A ,,,/t su . n, . � N� .�� "j �u�RA,n�vc s � W � �,ti Y RD w I . N n � URNIEY YE � ,�.�tUN001tAN AV! y � ; I Z w � . ..� ( Y 4`Z' I . T a R�?�C��6ROWMSNAt/E� AYE s � ; o n, _ I n � �f . '� � .. � O � �OIIVI Yf. � .'� I . � n = �MIAN00�U A`C� I n . . . I n . . .. . . . . . _.. .. _.... � . .._....._'""_'"'__..�.........___. ...._ ' . 7�"'-'-`z�'�� . �, p j� ( �� '°�_ i � �, � ' '. McKinzie � �� / � Me#ro / � • Appra�sals � � I, "BEFOR'E" AND "AFTER" APPRAISAL: OF BENEFITS CREATED BY THE ROSEMOUNT CITY PROJECT N0 . 235 WHICH INCLUDES STREET, CURB & GUTTER , STORM SEW�R , I WATER , AND SANITARY SEWER _REHABILITATION , FOR: , TNE CITY OF ROSEMOUNT � PROPERTY LOCATION : � 3185 145TH STREET WEST ROSEMOUNT, MINNESOTA , BY : JOHN Z , DAHL , M .S .A . � JANUARY , 1993 � � � �. ' T,�BLE_OF CON_T�NT_S IPAGE NQ. TITLE PPtiGE A�tD CO��R ' TABLE �F CONTENTS � PART I - INTRODUCTIE)N LETTER OF TRANSMITTAL ANB CERTIFICATION OF VALLTE 1 & 2 � PHOTOGIZAFHIC MOLTNTINGS - SUBJECT PRC�PERTY 3 ', ASSUl��'TIONS AND LIMITING CONDITIQNS 4 APPRAISER'S CERTIFI�ATI�N 5 � PAR.T II - FACTUAL DATA � 1. PtTRPOSE OF TF� APPRAISAL � a. REASON FOR THE APPRAISAL 6 b. PROPERTY RIGHTS APPRAISED 6 ,� c. DEFINITION OF MARKET VALUE b ,� 2.AWNFRSHIP DATA AND LEGAL DESCRIPTION 7 3. AREA ANALYSIS 8 � 4. PROPERTY DATA __� a. SITE ANALYSIS 9 � � b. DESCRIPTION OF IlVIPROVEMENTS 9 , c. HISTORY AND PROPERTY RECORD DATA 9 � d. TAX DATA 9 Il e. ZONING 9 1 � McKiNZIE METRO APPRAISALS � �J ' ' ' . � ' .�. � ' � ' OUTLOT A . I P � 1 " t- �~v ; � ' v � � gl a pt0-20 . . � w i0 r o I :" N �0'WPLE � g SO pip� ~/� � 50"0 g _ I J m eM�O,uc rppp5 TELE RISER o N�u� . � 8 X .OST 51� . � „7 ' BUSH � . � . � � _SIG�IGN_ -0 1L BOX_�„QPOST {�t SN _. � . . . , � . m � INP 8' SEuIER . . . � J1 - � W. ■W "'"._ S1GlP"`�'�'�� . �. -- !�-i�iGM- �— /p 5�0�� NAPI'E . . . �.. , _ SIGN l.� �. �,�r--� �—ttx�mr—< � 1 � stcw st �. -J stcH • sicw Q 2 ' SUPE AMER CA � ' N � �j�,/ TEiE W. � 010-�5 TELE 1N.t� Q .' .. � . . . , � . A . . . � . . ... �i V RAHN'S 4TH AD�[T!0 , ' � ' Drawn By� Drawing Title Comm. No. , P.S.H. Schelen 4438.60 wayeroa � CH I PPEPJDALE / CH I LE Dpte� Associates. lnc. Sheet no. Ln�inean� Atc�ilesls � Ptanoers.Sn�.�,on I N T E RS E C T I O N R E AL I G t�ME NT & ' �2"4-(�2 �t1d Park Pt�e�Gel�r�5775 •qsai� Boute�ard 1Uac��potls.YN SS�ta•1220�612•59S•ST7S ' ' 7'.ARL.E OF C`ONTF_.N"}"S CONT.} ' P:.AGE NO. 5. MAPS '' a. 1�'[ETRO AREA LUCATION MAP l 0 � b. DAKOTA COUNTY LOCATION MAP 1 I '; i e_ SITBJECT AREA STREET MAP l2 ') d. PROJECT LOCATION MAP 13 ,� e. ZONING MAP I4 � f. BUILDING SKETCH 15 PART III -ESTIMATE OF VALUE BEFORE T'HE PROJECT M THE APP RAISAL ASSIGNMENT 16 � l. HIGHEST AND BEST USE (BEFORE) a. HIGHEST AND BEST USE DEFINED 11 � b. HIGHEST ANID BEST USE - SUBJECT PROPERTY I? � 2. LAND VALUE (BEFORE) 18 a. MARKET SALES COMPARISON ANALYSIS 18 � b. ADJUSTMENT PROCESS EXPLAINED 19& 20 � LAND VALUE ANALYSIS (BEFORE) 21 � COST APPROACH(BEFORE) 22 INCOME APPROACH (BEFORE) 23 � MARKET APPROACH BEFORE 24 � ) � FINAL RECONCILIATI�N & C.:ONCLUSION (BEFORE} 25 � -�-------- �--- McKINZIE METRO APPRAiSAL � ' , TAF3LE OF CONTFIrJTS (C6NT.} ' PAGE NO. PART I�'_-ESTIMATE OF l�'ALUE AFTER THE PROJECT ' HIGHEST AND BEST USE AFTER 26 � ) ,; APPRAISER'S COIvII��NTS & CONCLUSI4N 27 - 30 � PART V - AUDENDUM ' APPRAISER'S CONIlVIENTS 31 ,� COMPARABLE SALES 32 - 34 � COMPARABLE SALES LOCATION MAP 35 CONIlVI[LJNITY PROFILE -ROSEMOUNT* � APPRAISER'S QUALIFICATIONS* � *INCLUDED IN SEPARATE SALES DATA BOOKI,ET � � � - , ' � � � -- McKINZIE METRO APRRAlSALS � ,' Professionai Fuu Serylce aDPraisers Zt74 Third Street,Suite 200 • White Bear Lake,MN 551 f0 • (612}426-7i44 ' � I � 1 I I I I t � VINGEN E.WHAR�TON ��.A. �� ciGnzie M$VO t'ipPCdISBI JOHN Z. QAHL,M.S.A. JONATHAN C.KRUEGER WtWAM E.McCLE�LAN,C.R.E.A. Sening All Areas oi Appraisai Needs � �'ebruary l, 1993 � Mr. Bud Osn�undson, P.E. � City Engineer& Assistant Public Warks Director City of Rosemount 2875 145th Street ��'est, P.O. B�x 510 � Rosemount, MN 5506�-OS 1(? � RE: Benefit Appraisal for Smith Property 3185 14Sth Street West � Rosemount, MN Dear Mr. Osmundson, � Accam an 'n this letter are two co ies of a "Before" and "After" Appraisal Report for P Y1 g P the above captioned property. � As a result of our re uest, I have com ieted this a raisal for the purpose of forrning an Y 9 P PP opinion as to the amount of"benefit" to the property in the form af increa.se in value, that � results from the street, curb & gutter, storm sewer, water, and sanitary sewer rehabilitation improverrtent project past the area of the subject property. � My estimates of the market values for the subject property as of January 26, 1993, are as follows: rAfter: $102,700* Before: 98 334 � DifFerence Shows A Benefit Conclusion Of: $ 4,370 � An explanation of the a raisal rocess, a descri tion of the ro erty, pius a market PP P P P P analysis and conclusion, are included in this report. � *Piease refer to the "A raiser's Comments" in the Addendum of this re ort. Pp P � � Members of. AMERfCAN SOCIETY Of APPRA�SERS MINNES07A GOVERNMENTAL APPRAISERS AMERICAN RIGHT OF WAY ASSOCIATION — 1 — PROVIDINGA WIDE RANGE OF APPRAISAL SERVICES '` ' I an� ret�ining a co�y ot�this �eport in our tiles to�ether with tl�e field notes and additional data f��i�i w{iic< <ny appraisal has been pre�area. ' The c�nclusions of market value resented in this re ort are contin«ent u on the Limitin P P � (� � Conditions which are included in Part I ot this report. '' Sin�ere{ • ours, yY '� ' John Z Iaahl, M.S.A. 'I Certified Federal General Appraiser (State of l��innesota) �� I,1C2I1S2 #��1 ��iEi � McKP�T�IE METRO APFRAISALS JZD/cj � � � � � � � � � � ' � � -2- � , � � � � ' • � - 1 � �. . ' • � - • . � ; � '• • , • • i c�?�= c_Mi f,jL�a..{ ;1 .y,r►A.,,`�+.! �.'.�' �.�s :..�� i�� `t� . a �. �� ;�,��;,� �a.�,�4 �' .;� � , , .y .. ,� "'� g . ,. � i6� � i�� ..�� K v+e. . 'a.\i�\� (yi� s` `eq �4 rr_ -.Y: � .��►��'�� .��;,. �, �, .,,. �� ' • . • ', .tp. ;y`'.,�.4.`!' \� ' � ,re. rr �� a -�_ { . � �„� , � � �•,� � . £-� � �� :�f .� � ;� ��_=,— �a r • � � j� �� __ _ _ C. _��i �� i v�i. , ....+: . � T , , . v>> �1�r�i _ 'a%r'�°�: �� , �,��._ �: � "� ' � � : • �. / . . . . � •• • � � s • • � � ' ' AS�t1Mf'"i�IUNS_AND Lih�fITING CONDITIONS ' The property has been considered as ti�ough it were free and clear of any indebtedness, liens, or encumbrances; and that said title is good and marketable, and competent management is assumed, unless otherwise stated herein. ' No responsibility is assumed by the appraiser for matters which are legal in nature. No survey has been ma.de, and it is a.ssumed that any improvements are lacated within the ," legally described praperty and that the buildings, if any, comply with a11 ordinances. , Any sketches and pictures in this report are included mainly to assist the reader in visualizing the property, and are not guaranteed to be l00% accurate. '� The appraiser has no present or contemplated interest in the property appra.ised, nor is his employment in any manner eontingent upon the value reported. � Possession of the regort, or any copy or part thereof, does not carry with it the right of publicatian. Further, all of the data contained herein must be used as a whole. Any page or portion taken out of conte� cannot stand alone, and invalidates the entire appraisal. � The appraiser herein sha.11 not be required to appear in court, or before any governmental body by the reason of the completion of the assignment without predeternnined � arrangements and agreements. The data contained in this report is in no sense guaranteecl; but has been gathered from � reliable sourees, and the appraiser certifies that to the best of his knowledge and belief, the stateznents, opinions, and materials contained in this appraisal subject to the above limiting � conditions, are correct. Any cost data used herein is taken from charts and material maintained in our office and � constantly kept up to date,based upon local labor and material costs in and around the area of the subject property. � Neither all nor any part of the contents of this report sha11 be conveyed to the public through advertising, public relations, news, sales or other media, without the written consent and approval of the author, particularly as to valuation conclusions, or the identity � of the appraiser or firm with which he is connected. Soils tests for contamination can be very costly, and are not the responsibility of the � appraiser. Without any test results, the property is assumed to be free of any soil or water contamination. If later tests were taken and any contamination were found to exist �n the site, the appraiser would reserve tF►e right to revise his appraised values to reflect the � new(y diseovered factors � � -4- ' ' APnRAtSER'S: C ERTIFI_C'_A.TI�N , This is to certity that the undersignecl has made an external inspe�tion of the property describeu as 5{85 145th Street �'�'est, lacated on the north side c,f i►_Sth Street th'est, Rosem�unt, Minnesota. ' The a raiser atso certifies that a(1 tindin Ts, statements and o inions submitted in this PP � P report are carrect to the best of his knowled�e. ' This a raisal has been re ared for the Cit of Rosemount f r the ur ose of estimatin PP P P Y , o P P g the present market value of the subject before and the benefits to the property after the � completior� �f tr►e street, curb & gutte,, sa;�;ta;y sewer, storm sewer, an� water improvement project. 'i The valuation estimates certified below are not eontingent on any monetary fees or interests whatsoe�er. � The appraiser has no present or prospective interest in the sub}ect property, and the fee agreed upon is in no way related to or contingent upon the value reported. � It is further certified that this a ra.isal has been made in conformi with enerall PP tY g Y accepted professional appraisal standards. � The market value of the ro ert as described herein and sub`ect ta the assum tions and P P Y l P limiting conditions of the report is certified as of January 26, 1993, to be: � After: $102 700* , � Before: $ 98,330* Estimated Va1ue of Benefit: � 4,370 � CERTIFIED BY: � � John Z. Dahl, M.S.A. Certified Federal General Appraiser � (State of Minnesota) License#4001146 McKiNZIE METRO APPRAISALS � *Please refer to the "Appraiser's Comments" in the Addendum of this report. -- -- McK(NZIE METRO APPRAISALS � -5- � ' ---- ' 1 {'l`Rf'OSE: (}}= i�}If: ?lPt'IZAIS:1t__ , �� Ri:ASC}N �QR THE APPRf�[SA1. This a�{�rais�l has beer� complet�d f�r the purp�se ot�estin�ating the market value of ' tl�e subject propertv, bet�re a�d aftei the im�ro��einent project to arri�e at an opini�n af`the benetit to the property � b. PRC?PERTY RIGHTS APPRAISED Property rights appraised in the "before" ' appraisal are all of ihose rights inherent in fee simpie title. The "after'' appraisal atso considers all af those rights inherent in fee sirnple titte. '; �. DEFINITION OF MARKET VALLIE: Market value means the most probable price which a property should bring in a � competitive and apen market under all conditions rec�uisite to a fair sate, the buyer and seller, each acting prudently, and knowledgeably, and assuming the price is not � aftected by undue stimulus. Implicit in this definition is the consummation of a sale as af a specified date and the passing of title from seller to buyer under conditions whereby. - � 1 Bu er and seller are t icall rnotivated; � ) Y YP Y (2) Both parties are well informed or well advised, and both acting in what they � consider their own best interest; (3) A reasonable time is allowed far exposure to the open market; (4) Payment is made in terms of cash in U.S. dollars or in terms of financial � arrangements comparable thereto; and (5) The price represents the normal considerat'ron of the progerty sold unaffected by special or creative financing or sales concessions ganted by anyone associated with � the sale. M M M � McKINZIE METRO APPRAISAL � -6- � ' I �' E)WNLRSH;P I}�;A r1NI� LEG�+L_DE_S__CR�PTI�� O�VNE(ZSH}E' � The subject property is owned by Harry & C}enevieve Smith. �' �� LEGAL DESCR1PTlON: I AUDITORS SUBDIVISION NO. I ALL OF LOT 8 PT OF LOT 6 COM AT PT ON NE t� 6 eOR OF L4T 8 N 20 FT t�' 1 IO FT S 20 �'T E I 10 FT. � � � � � � � � � �� - ------------ McKINZIE METRO APPRAISALS tl , _,_ i� , � �,_AREA,_ANALYSIS � The sub ect is located on the nac�th side of l4Sth Street �'Vest and a few blocks west c�f the 1 Rosen7ount business district I�Sth Street West is a main east-west artery and the area is ' a� oi�er estab(ished residentiai ne��borhood. �: I 1� 11 � �� l Il � � � � Il � - ---- McKINZiE METRQ APPRAJSALS 1 t -8- �� ' , �__f'RCJI'EP.TY--D�TA � a. Sit� Arialysis: ' The site is }acated on the north side of ]45th Street West and has 1 10 feet of frontage on 145th Street West, is 170 feet deep, and contains 18,700 square feet. The sitz is le��et artd has severa] mature trees. ' b. Descri tion of Im rovements: P P ' So as nat to cause an inconvenience to the homeowners, the City has asked us to only view the property from the street, which is what we have done. !j The home is an older 2 story frame hame with asphalt roofing, and detached garages. For the purpose af this appraisal we are using the assessed value af the home, and since that va�ue is usually on the conservative side, we are increasing that value by 10%. � c. History and Property Record Data: � The Count records indicate the home was built in 19Q0. Y � d. Tax Data: The Property Identification Number is: 34-03700-160-46. � The Assessor's Estimated Market Va.lue is $17 200 for the land and $68,800 for the � building, or t�tally $86,000. The real estate t�payable in 1992 was$1,044. �� e. Zaning: ,j The subject land is zoned R-1, Single Family Residential. � ,� �� '� ; -- ------- McKiNZiE METRO APPRAISALS �' , -9- �` �?��\', .�''.o e ►/�,1' ✓��1. p ��\\��' �`�� /t�'�� sj�• ��r-`1 YI 47 p N �' �' 'n �//�'� ' `IIYi Yt ., � �.,r.✓�i�`i��'�" � r..•� r'�f�/:��i�"�'p��I[riil� �' � � � s 1iraf�< �, 0 � �wtM�,��rr�" il I �T�� ti, �� ..s ti r � �,r ,�-�,�w �'-:,#.'�t � ��`�M ♦ y�a. �NI� . ,,;� ��,i•�• �� /�h t +�♦ 3' �. � i � .i Mp�6 � �`��r�!��s�l��r��.t�''►'•.� `'�t,r�.�'��'e�j��=q��l a � o i'` 1;`,i��,r1,s�,�e��;�, �t,Od�r.r+�,'��'�'; � r— � ' � � i ��a y'��r�,��i� � • �F��e,��r�[[iN� i � � �'�r ♦�3 �� Y�t��r,��R-w[��`i.0 i :r�/ti fF c,+� ��`�, t•t��',•�n1� t'�rw�vrei ' � � �i��'�;��.��'►�:�% `�'i��o+�4��,r� " � o 0 0� � �I;4�� "•� ii, MlY��,�,�''f��,�di �i�a ��v�' �� %:-,�`'�� `��a. a`�l�1 ,, i��, �}''�� , , f.�t.� M��'!�,rc�J�lf� �'�' � �,.��f t� �� J � �� t ' ' � ` L' ■+ � rcr �sc.► ��_..,.+► �►i�i �� p� `:�, � riit,�:;7��1��m^ai�i�,��y�rlili'�E��n�.�...a�!�4��Y� ��,, ,�' �,:�ie'� h��Li��':I'�.� � � .iJ� �,.r, . �'A� i;►� ��/�:a1 �-� • ,� s � o � ,�� . . ` � �•.. { . �f �� u.�i/ ... �„_� >�i�� - ' .�4�1 \t i. _ � �,�f ti� � ...-/' p ,.._� ,,,.- �vr i � � " u '.i1,-��i ,...... .�i, � � � _ .�_. �� •u �,� o .i"„."''� � P '� � � O q �; %: � � o ��' � �.� �+,�' .��ta�n�, � , ��/�.,.�� ft +�1 �', . ,'id ��.~�,�q�tY� �,?��d wi � � � �..I„ r �1� ""r"f1i�..y�aBl� w�� _'��?� 0.y�� _ p�: � �� ' � , � , ��'� �. . -� ��; , � , ,; �:. ; -- � � � � ��, � � .. 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[� - � - - - - . . . . . . . . � . . . . . . . � _ . . . . . . . . _ . . . . i � : � : : : : - � : : : : : : : : : : : : : : . : . : : : : : � � I : : _ ; : : : . � : : : : : : ( : : : : : : : : : : : : : : : : : : = = : . . . . . . . . � . . . �, . . . . ; . . . . . . . . . . . . . . . . . . . . `� : : : : : : : � � = : : : : : : : . : : : : : : : : : : : : : : : : : : : : . . : : : : : : : : : : i : : : : : : : : - : : : - - - : : : : : : : (_: : : : : : : � I : : : : . : : � : : : : : : : - � : : : : : : : � : : : : : : : : : : : : : : � : : : : : : : � .- : : : : : : : : : : : : : i: � : : : : : : : i : . . : . . . . . . : : : � : : : : . . . - . : : : : : - . . . . : : : : . - � . . : - . . . . . _ . . . : I': � �_ : i -i: . - - 1 = . - - - � � I � - - - . . . . . . . . . : I : � SCALE: 1 " = M A UR E S EQ BY: QATE: ,� BASEMENT: - Sq. Ft. 1ST FLOOR: = S _ Ft_ � ,� 2ND FLOOR: � Sq. Ft. 3RD FLOOR: = Sq_ Ft. PORCHES:_ = Sq_ Ft. �� ------- DECKS: Sq_ Ft_ GAR�IGE :_ - Sq _ Ft. � ----- - - - — - ' OTHFR: _ __ Sc� - Ft- � McKINZiE METRO APPRA(SALS '' - 15- ' � ' ' ' , ' ,' '� 'I PART III ESTIMATE OF VALUE BEFORE TI-�PROJECT '� � � � � � � '� ,� � , ' THE APPRAISAL ASSIGNI4�E_N_T ' The purpose of the appraisal is to estimate the benefit deri��ed from a project described as follows: ' 1. Street improvements including repaving and the reconstructian of curb and�utter. ' 2. Storm sewer improvement. 3. Sanitary sewer impro��ement. , 4. Water im rovement. P '� . � � � � � � ' � � � � --- -- -- McKINZIE METRO APPRAISALS � - 16- � � , l_HIGHEST AND BEST_USE (_BEFORE THE PRUJEC� ' a. Hi�hest and Best Use Defined: Highest and Best Use is defined as: That reasonable and probable use that will ' support the highest present value, as detined, as of the effective date of the appraisaL Alternatively, that use fram among reasonable, probabie and legal alternative uses, ' found to be physically possible, appropriately supported, financial}y feasible, and which results in highest land value. '; b. Highest and Best Use - Subject Property The subject property is zoned R-1, Single Family Residential. The highest and hest use � of the subject property is for a purpose similar to the current use, which is a single family residence. � � . � � � � � � � � ----- — McKINZiE METRO APPRAISALS � � - 17- ' ' 2 LANL��'ALUE�EF_ORE TF1_E: ('RC)1EC'T� , ��i� �aiiii 15 fii Si 4'c�ICi2� 1S if ft �%v'2f2 VaCcllii air� a'vaiic��',i� for d�tieiop�ent iii 1CC�iCi�IiC2 with its deterr��ined highest and best use. � a 1�larket Sales Com arison Analysis: P It is cammonly cansidered that the only� meaningful method of appraising unimproved ' land, is the Market Approach ta Va1ue. 7'he basis of this approach is the cansideration that a buyer will pay no more for a property than the price at which he or she can ' purchase an acceptable, similar substitute, (also called the rule of substitution). The Market Appraach is completed by researching sates of similar type properties to , use in a comparison analysis with the subject 1and. The land sales considered most comparahle witt� the subject land are then selected far ' I direct comparisans. Each sale is then individually compared with the subject, with plus and minus adjustments applied in accordance with the vaIue influence. Each land sale, '� after the adjustments have been applied, will provide an indication of the subject land value. The subject value iridications are then reviewed and provide the basis for the final conclusion of value. '� I have included in the Addendum of tYus re ort more data about each of the land sales p , used for the direct comparisons. I have personally viewed the land of each of those � sales. The sales chosen for the direct comparisons with the subject, were selected because of '� their better comparability with the subject. ,� � '� � � _ ------------------- - McKiNZIE METRO APPRAISALS � -- - 18- � ' -- --- — ----- ' �. Adjustment Process Explained: The pages that follow incfude an "Adjustment Camparison C'rrid"_ On that grid, ' adjustments are app)ied for dissimilarities for a number of considerations. 1f the subject land is judged to be superior to the land of a sale, a plus adjustment is applied to the sale price in an amount concluded by the appraiser to best reflect the ' extent of the subject's superionty over the sale. ' Similarly, minus adjustments are applied to sales prices where the subject land is judged to be inferior ta the Iand of the sale. , 1. Time: T'he time adjustment is applied to adjust a histarical sale price to an e�ected current price. Price increases in the general farm of appreciation are reflected here. From my analysis of sales, discussions with Realtars and developers, reviews of MLS sales summaries, and other research, I have '' concluded a reasonable time adjustment to be 4%per year, (compounded), from � the sale date to my value effective date. '� 2. Size: My com arisons are ma.de an the er uare foat or acre unit basis. On this P P � basis, generalty, as the lot size increases, the unit price decreases. Lots that are '� SO%o larger than the normal size in an area, wiil not sell for a 50%higher price, all other factors being the sa.me. Size differences are adjusted for here. � 3. Shape: In general, very narrow lots with e,accessive depths are not as desirable as wider lots with adequate or good depths. Far exa.mple, a 100'wide lot with a 200' '� depth, woutd typically sell for more than an equal size lot 75'wide x 266.67' deeg. Inegular shaped lots that include sharp "points"that are difficult to effectiveiy utilize, are inferiar to rectangular lots. Shape differenees are adjusted for here. '� 4. Topography: Generally relating to the terrain features of the land. Lots slightly higher than the street, and with slight slopes to assist goad drainage, are superior '� to those below the street, or superior to flat lots to the extent that drainage may be poor. Lots with steep slopes are also inferior to those without steep slopes. Topography differences are adjusted for here. '� 5. Location: For residen i t al lots desirable locational charactenstics rrnght include such factors as; neighborhoods of curving streets, slightly rolling terrain, smooth '� paved streets, curbs & gutters, newer well maintained homes, good accessibility, convenient to centers of employment - education - entertainment - shopping - � medical - church needs - etc., quiet & free of non-residential land uses. ' Undesirable residential locational characteristics might include: neighborhoods of; ,� difficult access, dangerous high speed traffic, unsightly poorly maintained propert�es, no�se (from anyo uf many possible sowces), adors, high traffic volume ! McKINZIE METRO APPRAISALS '� - 19- � ' — --— — -_ ' routes, unpratected from nan-residential use eneroachrnent (commercial - industrial - etc.}, and other negative influences. Location differences are adjusted for here. ' 6. Utilities - Street Improvements: Plus adjustments are applied to any sale where the subject land is judged to be supenor to the land sale with regard to any or several ' of the following factors: publie water - public sanitary sewer - storm sewer -good quality paved streets, curbs & gutters, natural gas, electricity, etc. Minus ad}ust- ' ments are applied where the subject land is found to be inferior to the land sale for these considerations. ' 7. Special Assessments_ Existing speciai assess�ents against the subject tand, or the land of the sale(when assumed by the buyer and not a3ready added on to the sa:le price), are adjusted for in this consideratian. ,� 8. Fili- Gradin - Subsoii: Lots with oor sails or with wet areas or in nced of fill g P , , � or grading would be considered inferior to lots that are higher, well drained, and ' basically rea.dy for development without the added �sts of filling, grading, ar givuig up areas to marshes or swamps. Plus or minus adjustments are applied here for such observed dissimilarities. '� 9. Zoning: Adjustme�ats are applied here for existing zoning differences to reflect the � affeet(if any)on vatue. , 10. Others: Adjustmerns could be applied here for any existing waterfront amenities, '1 or "special views", or such. I have adjusted for"tree cover" differences here. My adjus�ments here take inta consideration such factors as: density of trees, (how wooded is the lot?), sgecies, (oaks or maples or birch or pines ar cotton- '� wood or elms, etc.), location, (where on the lot are the trees?), health of the trees, and what do th�trees actually do for the lat? � A final word on these adjustment factors; _ There are no tables that one can refer to that will provide the appraiser with directions Mas to when to apply adjustrnents and how much of an adjustment to apply! It is a result of the appraiser's learned analytical skills from years of experience, and must be reasonable, logical, and consistent. � „ �� In the after appraisal particular attention is given special adjustment changes, (from those used in the "before"), to reflect the discussed affects on the subject property that � result from the taking. � McKINZiE METRO APPRAISAL � -20- � ILAND VALUE ANALYS i S � L�EFORE ) Fcc Owncr �aT�"}� &_�V�eVe Sf[}I�t _ Property Address 3��5 �45�1 S�._ �_ ' -- - --- Comporablc ProperE�cs Comp.riron No. No. - Na. - No.�� ' o.« or s.�� 1/3/92 1 22 92 10 23 9 nea��,� 19802 Covi Ave 3915 1 , Rosgrpc.�rt ' . _ Lot 5 B 1 k 2 L �-� � g � Lca�1 Dc�cript�on ��llton 3rd Carrolltcm ir rto naa«<: A�t. Adc�t '' -r«m� or s.�� Cash ivalerrt Cash ival G�antor �SHT)�1.87t ROSHII'Jt.ffTt Granccc 1 _,If1C. �I19TIaf1 �f1C. Saic Pricc , � ' $u6jcc[ Fronta c ��0� �� c�`+� �� Dcpch 170� 1�� ' Arca.sq- F`''�` 18 70d� S.F. 10 370 _ Ft 1 � � Zoni��. -1� S111g. dm_ R-1 Sl le F3Tt12�5. ..R-1 S1 - '� u�« s.�� P«« v�= } _�; _112 Per Sq. Ft_ $1.777 Per. Sq. Ft. $1.605 Per Sq. Ft �q. c�. r. r.. «<_ Ad�usted per Site Adjustrncnt Adjussmcnt Adjustmcnt Adjuscmcnt . ,� _ : Itcros Pius h{inus Plus l.Sinus Pkus M�nus Timc 876 � 1�3 s,Z� 1393 � Jhapc Topography Locat�on Ucilicics Strccc Im . � Spc<ial AsscsSmcnis _ Fill; Grading-Sub Soil Zoning � � Toul Adjuscmcnc - Ncc Adjuscmcnt -F� 1�]� +� 1,672 +$ 1�� Un�t Salc Pt�cc �yy� o! Comparablc �1�� Q�� 19�7tu � Unit Salc Pricc ot Comp. Adjusccd co Sub_ ��2 ��J� �1�6� ESTIMA�'ED VAL.UE OF LAND I:� SUBJECT PROPERTY � ON BASIS OF COAtPARAB[.E hSARKET DATA: is � squarc fect - et P2Y' $1tE = S � � � r " 1 sale C O h1 A1 E N l'S: Tfl� dCJ�USt�fl�Clt to the C�r{�arabl e Sa 1 es have been made on a pe s i te ba s i s (tc�ta. pri ce) rather than per square foat. Th i s most accurately ref lects the aaay in a,h ich res iderrtia 1 lots � are bax�ht arxJ sold_ Because all three sales are very similar, I have relied on all of thgn in reaching the final estimate af value_ � �, ,�„ �,Y John Z. Dahl January 26, 1992. __ _-___ �;,,. .,,�, � � _ _ _ _ ' -21 - McKINZ If= Mr Tf�O 11PPRA�SI�LS ' ' C�:ST ,:P�RC}��'H - BEFut'.E As outlined eariier, at the rec�uest of�the City, I have not measured or inspected the house ' so as not to in:,anvenience the res+dents The reason far this is that the impro��ements were not considered to be af�ected by the project to any� signiticant degree. Therefore, the ' Cost Approach was not completed. ' ' '� � � � � '� Ij � 1� � � � --- - — McKINZIE METRO APPRAISALS ' -22- � ' ' 1hC'QME APPRO�CH- BEFORL � Because this is a sin�le family residence not rented and owner occupancy is typica;, and'in my apinion the highest and best use, the Incame Approach has not been employed in this , aPPraisaL '' , ` ' � �� '� 1� � �� — ---- McK1NZIE METRO APPRAISRLS 'a � -23- � � — ------- --------------- -------------- i I , l��A�KLT APPP.:��C'�-3 - BEF<3�� ' ' BU2 tG iiie pLiij�OS� O{�Fh3S a(3�7iaiSni eaiii2i eX��ai3l2u, an� t�te 1a�n of 2ti�t}et"iC2 t}lai tlle subject irnprovernents wiil be significantiy impacted by the improvement project, the , Market Approach was not com�leted for the whole property includin�land and �mprovements. ' To inspect and appraise the improvements under such circumstances, tends to cause unnecessary inconvenience and privacy invasions to the property owners, and increases unnecessarily the project appraisal time and casts. ' To work with a whole ro ert � value before and after the im ;ovement project, we will P P Y P use our tand value conclusi�n which was derived by a Market Approach, and add onto ` '; that the local assessor's value for the improvements. � The assessor's values are also derived from the area market, but usually considered to be ' on the conservative side, so we will add a 10% factor to their improvements value before we add that to our land value. t� Land �a1ue Conclusian from Page 21 = $ 22,654 '� Plus Improvements{Assessor's $68,8Q0 x 1.10) = +$ 75.680 Total Property Value = $ 98,330 �� " " The Im rovement Pro ect By The Market Approach Befare p ) '� �� - ------- McKINZIE METRO APPRAlSALS ' -24- � ' , FI�v;L REC CINCILI_A r;4N A1�T CC7NC_LUS{ON - BEFORE _ _ _ __ _ _ , The Cost Approach $ -0- ' The In�ome Appraack� � -�- The Market Approach $ 98,330 � The final estimate of value using the appraised value of the land ptus the assessed value of , the improvements plus 10% - before the improvement project is rounded to say. � NINETY-E1GHT THOUSAND FOUR HUI�IDRED DOLLARS � ($98,400.00) ' � ' � '� �� _� ' 1 � 1� 1� 11 � � ------------ McKiNZIE METRO APPRAISALS , -25- � E-i U � 0 � . a � � � � �-, c� � � a � y w O W H � H � W � � � � � � � � � � � � � � � � � � � ' , HIGHEST AN[} BEST USE tAFTER THE PRC}JECT} tThe t�ighest and best i�se rernains ttle same after the project as k�efore. � � �' �� .� � ,� ,� �� --- -- McKINZIE METRO APPRAISALS � -26- � � tAPI'RAISER'S_COMMENTS REGARL7ING THE APPRAISAL OF THE PROPERTY "AFTER" THE IMPROVEMENTS t FINAL AFTER VALUE_AND CONGLUSI(JN On the previous pages of this report the subject praperty has been appraised as it exists t; Frior to the p(anned improvement project. After completing the appraisal of the property "before" the improvement project, the next ,' step is io consider the improvement project, what it means ta the subject property, haw the subject property will be affected by the improvements, and ultimately how will the , changes to the property affect its marketability, or its fair market value. The question becomes; in what ways has the suhject property been changect by the I`' improvement project (outlined earlier in this report), and ta what extent do thase changes affect the value of the sub�ect ro ert ? 1 P P Y �� The bituminous paving was patched in places and in need of repair. The new paving and new concrete curb and gutter wiIl have a positive affect on the aesthetics af the neighborhaod. Driving will be smoother and more pleasant. The new curb and gutter � gives a nice straight edge and is an improvement over the "before" situatian where the curbs were deterior�ting. '� At this location the water and sewer projects have a far less visible affect. Buyers are fax less discriminating about the upgrading of this type of infrastructure. It has been our �� experience that questions regarding this type of infrastructure are rarely, if ever, asked, whereas streets can be seen and opinions formed. Another factor to consider is that the improvement project is on and in 145th Street West, which runs along the north side of �� this property in front of the house, which has a greater affect than if the improvements were on a side. �3 Considering that there has been no change to the subject property itseIf, within the boundar�es of the property, there are only a few places �n the valuation process that are logical to adjust. They are: �� 1. The value of the land that has been used in the Market A roach is ositivel PP P Y � aftected more than the improvements. Because the "location" is now better due to � the sidewalk, curb, gutter, and street improvements, a positive adjustment can be made in the "location" section of the grid and/or to the "utilities and street" section � of the land �rid. � . . 2. 7�he improvcments have a lessor percentage adjustment but also have a pos�tive � locational adjustii�cnt attributable to thc project. - - McKINZIE METRO APPRAISALS— �� - 27- � ' , The cumutative chan�e is relatively minor and can best be termed as an impravement ta the aesthetics of the immediate neighborhood. tIf the change to the property were more prafaund such as providing pubtic utilities to the property, which it did not previously have, a before appraisal could be completed using � sales, that like the subject, lacked the utilities, and an after appraisal could use sales for a comparison analysis that had the utilitres. This does nat appear to be the magnitude of the appraisal situation here. I have therefore made the adjustments as outlined above. The ' conclusion in the "after" situation is as follows: , I 1 � t l 1 � 1� 1 l . 1 j i� 1 � � _i � � . � -- . — - -- ---- ---- — McKiNZIE METRO APPRAISALS 1 � _��_ � 1� IL_ l1ND VALUE ANAL_YS { S ( AFTER ) Harr & Ger7evieve Smith 3185 145th St_ W ' Fcc Owncr - y _F�ropc�ty nddres,: ---- --- __ __ __---_ -------- Compo�:��Ec Yropertics Comp.n.on No. No. -u-�— No. �� _ N�-- -- I Q.« or s.i� 1/3/92 1 22 10 23 Address ��Z �OVI � �V2 �� Rosgra�mt t Lot 5 B1k 2 L Lai, 7 B k Lcaal Dc�cripcion ��llton 3rrl Carrollton It No Addre�s �lil_ AC�C,�1 � Tcrms of Sa1c �$�l 1Vdl� Cd$fl 1VdtgTt. Gtantor �$�Tl�l.6Tt .� RO$gCqt.d'Tt .� Granccc 1 .�j(1C_ �(15TTIa11 . IIIC. , Saic Pricc � � Sudjccc Fronn c iIQ� �� • �� o�P�h �aa� Tz�� E�=.Sq. F`.''zfT 18,70� S.F. 1Q 370 . Ft 1 tS Q. � Zonin� R-Z�S1 . �I11. R-1 Sl le FfitF�ES. ..R-1 S3 - � un« �.�� P�{« p�= . .112 Per Sq. Ft_ $1_777 Per. Sq_ Ft_ $1_605 Per Sq. Ft �q. r�. r. �.. «<. Ad�usted Per Site Adjuscmcnc �dju�cmcnc Adiuscmcnc Adjuscmcnc '1 Itcros Plus hiinus Ptus htinus Plus Minus i Timc $]6 � 1� s�Z� 1533 1463 1393 ,� Jhapc Tapographp Locacion Utilicics Scrcct im . 1� 1� Spcti�l hsscssmcnCs Fi!!; GradinR-Sub Soil .Zoning � � � � � . � � ' �l Tocal Adjustmcnt • j Nc[ Adjustmenc -�.� 3��Q.� +� 3�� +� 3 ]� Unit Sslc`Pticc o( Compiriblc �1�� ,gpp I9 900 '1 Unit $alc PriCc oi . � Comp. Adjustcd to Sub. ��84.2 �L��(�2 � � I ESTIMA7'ED VALUE OF LAND Iv SUBJECT PROPERTY '� ON BASIS OF COI�lPARASLE MARKET DATA: I 18,700 sq�o�-c (�et _ at P21^ Slte = S 4 �� --- co�i n�r N��: The ad j ustrr�nt to the Carrparable Sa 1 es have been made on a �r s ite bas i s (tcrta 1 sa le � pricej rather than per square foat_ This most accurately reflects the way in aA�ich residential lots �I are bou�t arxi sold. Because all three sales are very similar, I have reliecl on a�l of thgn in reachir�g the final estimate of value_ t� �, ,,,, ,,J John Z_ Dahl January 20, 1992 � �; , .,,. . ,. , 1 � _ . � -29- McKfNZlf Mi iR0 /1PPRAISl�LS � , FINAL CC}NC'LUSION ' Tt�e Cost and Incame Approaches to Value have not been employed in this appraisal for the reasons out}ined in the "before" situatian. , The Market Approach with the adjustments to reflect the "at�er" situation is as fallows: �: Assessed Value of Improvements $68,800* h 1 10 = �75,680 x t.03 to reflect the projects impact on the improvements at this lacation = $ 77,950* � Land Value from the "Land Value Analysis" Grid "After" _ $ 24,75Q ��' Total Land and Improvements Afker= $102,70Q �� * �� - Please refer to Appraiser s Comrnents in the Addendum of this report. �� '� � 1 � I1 1 l � �� i 1 � i� � McKINZIE METRO APPRAISALS � -30- � ' , ��s�:r�� cvr�s��E�r s II discusse� the metho� of approach to the vaivation of the improvementa wi�h Mr. Osn�undson, the City En;ineer. It was decided so as not to inconvenience the residents ' with the full inspection process, that we would use the assessed valuatian for the m�provements. Because that assessed valuat�on tends to be on the conservative side of markzt va}ue, wz have increased that amount by l 0°o. ' B faltowin this rocess it allows us to work with the totai ro ert includin both the Y � P F P Y g (and and the impro�ements. t !► � � 1� 1� r 11 1� � � � � '� --- ------- McKINZIE METRO APPRAISALS -31 - � ' , COMPARABLE LAt�'D SALE 1�0. R-2 ' INFQRMATIQN SOURCE: Certifieate of Real Estate Value LOCATION: 19802 Covington Avenue, Rosernount, MN ' LEGAL DESCRIPTION: Lot 5, Blocl: 2, Carra}ttan 3rd Addition ' DaTE OF SALE: January 3, 1932 BUYER: Tk�e Windwood Ca., Inc. , SELLER: Rosemount Pra erties of Minnea olis 1� p 'i UTILITIES: All typical of city , TOPOGRAPHY/SOILS: Flat and level land with goad soils �� SIZE: 85'x 122' = 14,374 Sq. Ft. ,� SHAPE: Rectangular '� SALE PRICE: $21,900 TERMS: Cash equivalent � STREET OR ROAD: Bituminous � AMENITIES: New residential development REMARKS: There is now a new house on the property. � ZONING: R-1, Sin le Famil Residential g Y � k �h � (e� ' .. ,;�Y4•��' . � ¢ `P � ... . ...,,.'"l-t� - '.:}" :�� 7' � r��, x..•' . _ .'rs � 3 � � . - � . . . " -rx.:� � w�. . ' . "', t. . _ '_' • ` _^'"�yp ,_., . :.y.. -".1._ 's C 1l.' �e. ��.., �_��- - ,rr'�-j . � �y� .rw,.v_z.. �. . .. _ � _ . � ' . � ` {�.+�`..; ..-.�. .. .. s . ' � .. . . `wn. ` _ �-.�... .. 3 �_ . � 7 Sr._�:'. ... ._... ��",... �.. . ti..� __ �,.n...r.�_. 7 .. � s. � —.-...Eam�'x.""c°'*� '•. �� - . � _.e.r-•_• ...... . .....,... .-.,g« . - _ -32- � � ' ' �C)MPARABLE LAND SALE NO. R-3 INFORMATIUN SOURCE: Certiticate af Real Estate Vatue ' Lt�CATION: 3915 147th Street, Rosemount, MN ' LEGAL DESCRIPTION: Lot 1 l, Black 1, Carrollton 2nd Additian ' DATE E}F SALE: January 22, 1992 BUYER: Wensmann Properties, Inc. ' SELLER: Rosemount Praperties of Minnea olis P UTILITIES: All typical of city '! T4POGRAPHYISOILS: Fiat and level land with goad sails ,� , , _ SIZE: 84 x 140 — 11,760 Sq. Ft. '� SHAPE: Rectangular � SALE PRICE: $24,900 TERMS: Cash equivalent � STREET OR ROAD: Bituminous '� AMENITIES: New residential development REMARKS: There is now a new house on the property. � ZONING: R-1, Sin le Famil g Y "4 � �� " � �� d < ` � � ,�� 'x_, t Fe . .. . '�'. h>. :L :�� ," . � �A�� . . � � ' "� �� '� Y,, �.._. :: ... � � -'`-"` .. _ ., , z �i�'� •� � � �::.r i '� 4 ' 'r', .. f� ' � i+SM- �� . - "tL'�yr��.n.�,:�a'i . i � � , � � ' . �T�N'�. y�.:.,..'f.`!�-'_rV.4. -33- ' , COMPARABLE LAND ' SALE I�O. R-4 ' INFORMATION 50URCE: Certificate of Rea1 Estate �a1ue LOCATION: 3938 t49th Street West, Rosemount, MN ' LEGAL DESCRTPTION: Lat 7 Block 3 Carrollton 3rd A � , , ddlt�on ' DATE OF SALE: 4ctaber 23, 1991 BUYER: Basic Builders, Inc. , SELLER . Rosemount Prapert�es of Minneapohs ' UTILITIES: All typical af city i TOPOGRAPHY/SOILS: Flat and tevei land with goad soils �� SIZE: 80' x 1 SS'= 12,400 Sq. Ft. � SHAPE: Rectangular � SALE PRICE: $29,9QQ TERMS: Cash '� STREET OR R4AD: Bituminous '� AMENITIES: New residential development REMARKS: There is now a new house on the property. '� ZONING: - R l, Smgle Family . . . �. i:,'�,N . , . . �' ,� ' _ � "„ fi"� Y�� ' � '� � �' ��, —_ ,,� ;,',`.< 'I �,,;z. �� _ ;., ,' : .. ��' �� .J.�. ' �- s�� . i: } _ i x.s�"`,t: f i �� — � �� -34- � � � � _� �� `� _� --' -� �� -� ---� � � � � � � ��__.__. .____ ut ^ w I. � ;`s � ,k �+ �� ,,%� f.'�'a,��'aa S q �T�'�Q PILOT I�i��:� ��3{ , � I . e )OOO 41 � AVL . �REx ."' ti ' —... — — �^ � � Li� +'�'�� OVRNIHC AY E� � � �� -0 � W ��a �b, s i Ci�` • • .;E�; .. _ c r � ~ ,' a n C > na � -. - n f9 y i� ..... � _, ueu i �B p '�� + �! � . � (1 'vl.;k:�<"` t p :. Q�:�' � x . �•.,;}i�s, > N ��: o Ct f' OJ �ti �`* � f OOG y � � �r t ;��<'�" i�, $ <r : � � � o r, � 8 ��tn {q ' ,4 . ��v�� Gy O � �VC�,r � �.y�fis jY a�' O .�. � � ^��i v ;� p �� }� Yl� . � .� � s�n:. . d ? � �'� A� M a O :�}.; � . ; -1 ,1 2 � O Ca r:u„ � p ��+ y'p �O y' * � .'DRE t >� U a 2 �yr�� = 1�7T � C+ .. � . ��'�'. .: r�t'� �+0 y : * 1 f, d � '�1,a0�' �FM� p.q p. � . a ,. �. '� , � �,�,,.Q i ��O CL O DUND[t AY;� ��'. ,Th�� 4 . c�R � : �"�y � �. . . �S� dr G �� i�< �'.� L,: 1�;; 4`...�� wy�, �`;��Nl C, N A �Rlti�y � in S�� k � � DO Y �� a � .� �.. �} . w . . ^ �.� � ` ... � ..� a 0 y > > .a ,. : . � L 2 �:' � . � l� S ,� N AV M '� , DR[10fN1Y[ O r1 � .. : n ' . � . '?.. '.� � � w w�t � � N f ; DOIA�INiCA��£, ti� � � 3 � � �'vi�... >... '+.., � a R DEAR �� Y . ,t<'{ .�A . .¢, Oi. v � � � . . I i � DMJ E U,y� �� DELf7�_^ � .{� � � c�� y� 9= „�� S A C'� ti o Q � a Ct � .. � pA AVE.. AV[. DEKAL!� 7 � = V� .�C'�t 1n +� �S I, s s. �� y �s g�1q�E MVIIIE . C� � � � � �i3 � � rK � f� . .� :: . �; � Dy Y � 0 'T�' ! y �T Cr ft'ti ��• AVE 9 OAVENiORT� CT � x i > S�� a . � OAMVItIE_ .. � D OAIIeURYwAY� D O M M � fn � y O�OA N[tA ��E v� 2 � �F A� DUr DANVIIIf AVE � tURY AY� '� � . :� �j�� pANU6E lA '� � � . �� A � ; Yy A .. � �r 0'� AMAS YI �7 i O�M 41 A WIN WAY IJ C7` f � .,� . CD I � � .: y . a a � a �tr�� ::i:�E' S � f?� �+Mp DANlURYCT �v � I fTl SHANNON►K f � �,� DALLAII W t � FAy `*r'� .� .� � �. .� ._ �OOO � .— �.. �.... — I �1• (� �� CRES C Mr : SHANNON PKWY ; 9� �' � X �� » 'i tYHR AY M A CIR y n � �� . . � 1 � n � u w►r ANp AY! �' � y CT �a. � ""�."'� � � hl A . fT1 � N . �Y'�� WUM�MTG11 Cpy� � � '� AVI . V � .. 'A . . � . � � � C/') � '� $' ~+ �y9'y � m 4 � �f coee�fRAY� � � = w �-- URLt AY[� (�MMA AYF. �Y� AVC. C�MARR N AVE. I �' „� ^- � p C� cKt � � y a N � GNRY lE AY ye " w., +'t'7 e w .' i . �r ..� m . . n . ; S �1 � _ '� 'A .. �. •�' N• � .. x� " ,. � � = Sl�NE lA -1 " ,. �--� CHI PEN ALE'A E. W. HORIE ��V[ . RD, 9 o N . R D. 3 9 ^> � � AlE AY . '^ � � � GMINCNiIIA AVE. � I A � A � y � AW H NTI ' cN iU�+�v A � .., � � I . yy` �� . �CHINC�H.III� CT O �HA ST� '� AV = v '' AYL E.� p I � C � -+ �� w w�� No I i � : z . i� ; ��q� ^ � ' � •' � �� y H Cu1TATA � Y� � c , ��, � � N.1 C .. � �J . "O NAp zj y ~ N �n �� y I N p N�R� TO f o W �� f. DA w�N �VE , Y� 8 ■� . . . ( � x CT h � � •y�+ . . CANADA AYE. „ r Q cArnnoCM y t � �: , � n' n O I � cArtRo u •:. u a : s � � � � �} � �CAMiRIAN „�'� CA�M[0 AV A x � JOOO I � N A Y E. ',�� < ,�,,, 3�� _ _ _ N ` — �� t_J r �o ;t7 OV �,� �vfY�. eunnunov �vc � �O I ��, ��- � ROBERT TR. 5 � ` I � ^ c ■�� eutiii►m xvt s � � .. H ti 9Q N � • U�nIEY Yt � ,�r�''� w � w Y ♦ T �yr!� iVf100RAN:� AVL � � = N � . . Q 'Z' �,'�'. I I . n a ea�'T . ROVOHSHAiIF:� AY[ � � ( O N � _ � �. .•y }� ` ' � .Y-' \ I ; t " y x v, �otiri y .i�' t. '� I ^ aeuneoR� `v[r ' � '' ,� ' . . .'.. y (1 . .� � . . ... . .. . _..._.._.. — ,__. � . . ��4�'� . . .�,� j�-�T '_ �'f.'� l ' ' ' ' , � McKinzie �� Metro / ; j Appr�isals � _� � '.� "BEFORE" AND "AFTER" APPRAISAL OF B ENEFITS CREATED BY THE ROSEMQUNT CITY PROJECT N0 . 235 '� WHICH_INCLUDES STREET , CURB & GUTTER , STORM SEWER , WATER , AND SANITARY SEWER REHABII:Il'ATION FOR : THE CITY OF ROSEMOUNT PRpPERTY LOCATI-0N: 3400 145TH STREET WEST ROSEMOUNT , MINNESOTA &Y : JOHN Z . DAH[. , M. S .A . JANUARY , 1993 1 ' , TABLE_(3F C'()N"I E;NTS PAGE NO � TtTLE PAGE AND COVER ' TABLE Q; CQNTEI�TS PART I - INTRQDUCTION , LETTER OF TRANSMITTAL AND CERTIFICATION OF VALUE l & 2 IPHOTOGRAPHIC MOUNTINGS - SUBJECT PROPERTY 3 F ASStTMP'I'I4NS ANB LIMITING CONDITIQNS 4 ''l � APPRAISER'S CERTIFICATION 5 ' PART II - FACTUAL BATA � 1. PLTRPOSE OF THE APPRAISAI, ' a. REASON Ft?R T� APPRAISAL 6 b. PROPERTY RIGHTS APPRAISED 6 c. DEFINITION OF MARI�ET VALUE 6 2. OWNERSHII'DATA AND LEGAL DESCRIPTION 7 3. AREA ANALYSIS 8 4. PROPERTY DATA a. SITE ANALYSIS 9 b. DESCRIPTION OF IMPRQVEMENTS 9 c. HISTORY AND PROPERTY RECORD DATA 9 d. TAX DATA 9 e. ZONING 9 McKINZIE METRO APPRAtSAL , [ T,aHf.�_c�� e_v_r��rFN�r�coN1-_� PAGF NO � — -- 5. MAPS � a. I�qETRO AREA LOCATIQN �1AP �� b. DAKOTA COUNTY LOCATION MAP � 1 � c. SUBSECT AREA STREET MAP �2 ' d. PROJECT LOCATION MAP 13 e. ZONING MAP �� ,'� � f. BUILDING SKETCH 15 ' PART III - ESTIMATE O� VALIJE BEFOR.E THE PROJECT �� THE APPRAISAL ASSIC�NMENT �b � 1. HIGHEST AND BEST USE (BEFaRE) ' a. HIGHEST AND BEST USE DEFINED 1� '� b. HIGHEST AND BEST USE - SUBIECT PROPERTY 17 ' � 2. LAND VALtTE (BEFORE} 18 � a. 1vIARI�ET SALES COMPARISON ANALYSIS i g b. ADJUSTMENT PROCESS EXPLAINED 19& 20 � LAND VALUE ANALYSIS (BEFORE) 21 COST APPROACH (BEFORE) 22 � INCOME APPROACH (BEFORE) 23 � MARI�ET APPROACH (BEFORE) 24 FINAL RECONCILIATION & CQNCLUSION {BEFORE) 2$ - McKlNZIE METRO APPRAISAL � ' TAF3I,F, (�F ('(��, ��f�_N�I��CON7 � � PAGE NO. FART I_�1-ESTIMATE QF V�LUE AFTER THE_PR43ECT ' HIGHEST A1��D BEST USE AFTER 26 ( } , APFRAISER'S COMMENTS & CONCLUSION 27 - 30 PART V - ADJEI�TDLTM r � 31 APPRAISER S COIvIl41ENTS '. COMPA.RABLE SALES 32 - 34 � COMPARABLE SALES LOCATION MAP 3� ' CONIl�IUIVITY PROFIL,E -ROSEMOUNT�` �� APPRAISER'S QUALIFICATIONS* '� *INCLUDED IN SEPARATE SALES DATA BOOKLET '� ' � � � 1 � 1 � � � 1� MeKINZ1E METRO RPPRAfSRL �# � iProtessional Fu11$ernce Appra�sers Z1�4 TIIIfCI SIPB6t, Suite 200 - White Bear Lake,MN 55110 • (6t2)426-7T44 I � , � I / I � � � VINCENT E.WHARTONa.S.A. ' McK�nzie Metro APprd�SBI JOHN Z.DAHL,M.S_A. JONATHAN C_KRUEGER WIWAM E.McCLELLAN,C.R.E.A. Serving Alt Areas of Appraisai Needs � January 29, 1993 ' Mr. Bud Osmundson, P.E. ' �ity Engineer & Assist4nt Pu'�tic ��'��i:s ��;ectar City of Rosemaunt 2875 145th Street West, P.Q. Bo� >10 ,. Rosemount, MN 55U68-U510 1 FtE: Benefit Appraisal for '# Rechtzigel Property 3400 145th Street West � Rosemount, MN ' Dear Mr. Osmundson, � Accompanying this letter are twa copies of a "Before" and "After" Appraisat Report for the above captioned property. � As a result of your request, I have campleted this appraisal for the purpose of fornung an opinion as to the amount of"benefit" to the property in the form of increase in value, that � results from the street, curb & gutter, storm sewer, water, and sanitary sewer reha.bilitation impravement praject past the area of the subject property. � My estimates of the market values for the subject property as of January 26, 1993, are as follows: � After: $ 98,300 Before: $ 34.000 � Difference Shows A Benefit Conctusian Of. $ 4,300 � An explanation of the appraisal process, a descriptian of the property, plus a market analysis and conclusion, are �ncluded in this report. � � � Members of: � AMERIGAN SOCIETY OF APPRAISERS MINNESOTA GOVERNMENTAI APPRAfSERS AMERICAN RIGHT OF WAY ASSOCIATION - 1 - PROVIDiNG A WIDE RANGE OF APPRAISAL SERVICES � � I am retEtini�� a copy of tf�is repc�rt irt our files to�etller with tl�e �ield not�;s anci additional� i�c3�c� i("i��ii ��-�11i;}i i7iV �Ei�7i-cliSai i1nS t�22i1 ()fe�?c1�e� 1 The �c>nc{usions c�#�market value presented in this report are eontin�ent u�an the Lir�}itin� Canditions which are included in Part I of this report ' Sincerely yours, ' John Z. Dahl, M.S.A. � Certified Federat General t�poraiser (State of Minnesata) , License #4001146 I�gcKINZIE METRtJ APPRAISALS '� � JZD/cj ' � , ► '� r j � � - � � � � � � � � � _�_ � , PNOTOGRAPHS Property Owner : Carl & Ruth Rechtzigel ' Property Location : 3400 145th St. West , Rosemount , MN DESCRIPTIONS ` > � � '. �^,� � �j .. �. . . '� . ,'� . ��. 11 � -,� ..+f� ��., ' Photo No. 1 �� . Front view of subject. I 1 - -- �� 1 1 �� : - � . . �1 � 1 1 t 1 1 ' Photo Sy : John Z . Dahl Date Taken : January 26 , 1993 McKINZIE METRO APPRAISALS ' -3- � , ASSUMPTIONS AI�IF� LIMI'I�ING C`ONDiT�I(?NS � -- --- - -__.— The property has been considered as though it were free and clear of any indebtedness, ' iiens, or encumbrances; and that said title is goad and marketable, and campetent management is assumed, unless otherwise stated herem. ' No responsibility is assumed by the appraiser for matters which are legal in nature. No survey has been made, and it is assumed that any improvements are located within xhe , legally described property and that the buildings, if any, comply with all ardinances. Any sketches and pictures in this report are included mainly to assist the reader in ' visualizing the property, and are not g,uaranteed to be 100%a accurate. The appraiser has no present or contemplated interest in the property appraised, nor is his employment in any manner contingent upon the value reported. ' � � Possession af the report, or any copy or part thereof, does not carry with it the right of ' publication. Further, all of the data contained herein must be used as a whote. Any page or portion taken out of context cannot stand alone, and invalidates the entire appraisal_ The apgraiser herein shall not be required to apgear in court, or before any governmental body by the reason of the completian of the assignment without predetermined arrangements and agreements. � The data contained in this report is in no sense guaranteed; but has been gathered from reliable sources, and the appraiser certifies that to the best of his knowledge and belief, the , statements, opinions, and materials contained in this appraisal subject to the above limiting conditions, are conect_ Any cost data.used herein is taken from charts and materiat maintained in our office and constantly kept up to date, based upon local labor and material costs in and azound the area of the subject property. Neither all nor any part of the contents of this report shall be conveyed ta the public through advertising, public relatians, news, sales or other media, without the written consent and approval of the author, particularly as to valuation conclusions, or the identity of the appraiser or firm with which he is connected. Soils tests for contamination can be very costly, and are not the responsibility of the appraiser. Without any test results, the property is assumed to be free of any soil or water contamination. If later tests were taken and any contamination were found ta exist on the site, the appraiser would reserve the right to revise his appraised values to reflect the newiy discovered factors. s j � -4- ' ' API'RAISER'S_C'ERTIFIC'.A"t�t()ti' This is ta certify that the undersi�ned has n�ade an external ins��ection ofthe property , ciescribeci as 3400 14Sih Street West, located on the sauth side of i 45th Street West, Rosemo�int, Ntinnesota. ' The appraiser also certifies that all tindin�s, statements and o�inions submitted in this report are �arrect to the best af his knowledge. ' This appraisal has been prepared for the City of Rosemount, far the purpose af estimating the present marl:et value af the subject befare and the benefits to the property after the comptetion of the street, curb & gutter, sanitary sewer, starm sewer, and water ' improvement projeet. , � The valuation estimates certified below are not cantingent on any manetary fees or interests whatsoever. The appraiser has no present or prospective interest in the subject property, and the fee agreed upon is in no way related ta or contingent upon the value reported. It is further certified that this appraisal has been made in confarmity with generally accepted professional appraisal standards. The market value of the property as described herein and subject to the assumptions and limiting conditions of the report is certified as af January 26, 1993, to be: After: $ 98,30Q Before: � 94 000 Estimated Value of Benefit: � $ 4,300 CERTIFIED BY: John Z. Dahl, M.S.A. Certified Federal General Appraiser (State of Minnesota) License #4001 I46 McKINZIE METRO APPRAISALS ; -- McKINZIE METRQ APPRAfSALS ; '� -5- � , , 1 _PURF'�_SE�. ()F T�HE�:_AI�I?RAISAL ' a REASON FOR THE APPRAISAL T}7i5 ap�raisal has been com�leted fc�r the purpose of estimatin� the market vatue af the subject property, befare and after the improveinent praject to arrive at an opinion ' of the benefit to the property. ' �� i in the "before" b. PROPERTY RIGHTS APPRAISED: Property nbhts appra sed appraisal are all of those rights inherent in ' fee simple title. The "after" appraisal also considers all of those rights inherent in fee simple title. � � '� c. DEFINITION OF MARKET VALLTE: Market value means the most probable price � which a property should hring in a corrtpetitive and open market under all conditions requisite to a fair sale, the buyer and r seller, each acting prudently, and knowledgeably, and assuming the price is not � affected by undue stimulus. Implicit in this definition is the consummation of a sale as ' of a specified date and the passing of title from seller to buyer under canditions whereby: (1} �uyer and seller are typically motivated; (2} Both parties are well informed or well advised, and both acting in what they � consider their own best interest; , (3) A reasonable time is allawed for exposure to the open market; (4) Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable ihereto; and (5) The price represents the normal consideration of the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with � the sa1e. � � McKINZfE METRO APPRAISAL � -�- � ' ' 2. U��'1�ERSH1_F' I).�"T�.-� ...ND LEC;AL_DF.S�:_IZ.IP�iON , O�h'NEKSHIt': The subjeci property is awned by Car1 an�i Ruth Re�htzige(. ' ' LEGAL DESCRIPTION: ' �,ot 2, Block 1, Rahns 4th Additian. '� � McKINZfE METR� APPRAfSAL � -7- ' ' ; _�REA ANa��'S_iS ' T�c subj��t is Ic�cated �n tF�e south side of i45t� Street �Jest a�►d a few bla�ks west af the Rasemount business district. 14Sth Street West is a main east-west artery and the area is ' an alder estab}ished residential neighborhood. ,� t�� ,� � , � � ------------- McKINZfE METRO APPRA{SALS � -8- � ' ' 4_ PRUf:E:R"IY aATA , a Site .Ar�alysis: The site is located on the south side af 145th Street West and has 7 i.54 feet of , frontage an 145th Street West, and contains ]2,815 square feet T�e site is level and has several mature trees. � b. Bescription af Improvements: ' So as not to eause an inconvenience to the homeowners, the City has asked us to only view the property from the street, which is what we have done. , ! The home is a ramhler type hame built in 1966 with waod siding and asphalt roofmg. For the purpose of this appraisal we are using the assessed value of the home, and since � that value is usually an the conservative side, we are increasing that value by 10%. ' c. History and Property Record Data: '� The Caunty records indicate the home was built in 1966. '] d. T�Data: ! The Property Identification Number is: 34-62853-020-01 '� Th A r's Estimated Market Value is $16 300 for the land and $66,700 for the e ssesso , building, or totally$83,000. The real estate tax payable in 1992 was $980. ,l - e. Zoning: � The subject land is zoned R-1, Single Family Residential. , _� � � � � � - McKlNZfE METRO APPRAISALS �� -9- , � � ` a I r � e • �` I -�°L ��t�P'�...;..� i' � ��a+�P�Nu� •�� y �\� y�,i1��\�tii�,.i;�. �'`.*�r'^<, 'r � � �"�;ij�e�. /��,,��IIw��1�R►l��itl�'��II�"ltt. i� I !r`��-��y��, �`7�'�Ai{�I ,�f(�'�j��: �7� �Icosf�� - �� 3��~'p'7� /��tr-•^� I e �i �� Iia��y��c,��R',�'�ji, �'u �.'�I\v i, ,,. ,��_ o ��A�� ,�o �� ,€.� ��•�.�t.�. ;f ` o - - �,,� �`�, � ii �,��A!!► � ,f �1 �� y.�...�..;�.. , �j� � -o � ,, � , ,{ �� •,,r� �!�i� Ik�,� ��+ �� S' �� I ' `�� "l3�'� 0 1� - �- I, � ;� ��;,.,�; „ ..�, �� , � _-._�._..� � ��.. . ��_ .: _� , '-i , ��'S, � �� ,.�� . �� 'i��,'�• V f �. �` ,. 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'� : �: . . . . : : � : j : - . . : . . . : 1 :�: : : : ::��: _ : . . : . : : : : : . . : I�: : : : : _ : : : : : : : : : I : : : . : : : : : : - - : : : : I : SCALE: 1 " = MEASURf D BY: DATE: 'l BASEMENT: = Sq. Ft. ! 1ST fLOOR: = Sq. Ft. � 2ND FLOOR: - Sq. Ft. 3RD FLOOR_ - Sq. Ft. PORCHES: = Sq. Ft_ � QECKS: _ = Sq. Ft_ GF1R�iGE: = Sq_ Ft. OTHER: - Sq Ft '� ---- --------- — — McKfNZfE METRO APPRAISALS � � � - 1�5-� ' ' ' , ' , ' � � � ,� PAR.T III ESTIMATE OF VALUE BEFQRE THE PROJECT '� � >� � � � � � � � � � ' ' THE APPRAI_SAL ASSRCiNI�`t�.N`t' ' Tl�e pur��e af the appraisal is ta estimate the benetit cie�ived from a project �escrihed as fallows , 1. Street improvements including repaving and the replacement of curb and gutter. - 2. Storm sewer improvement. '° 3. Sanitary sewer improvement. t1 � 4. Water improvement. � � M � � � . � � � � 1! McKfNZIE METRO APPRAISAL �� -16- '' ' ' 1. HIGHEST_,�lND t3F��t� US� �BEFORE._THE PRUJE�:T� ; a Highest and Best Use Defined '+ Highest and Best [1se is detineci as: That reasonable and probabte use that will support the highest present value, as detined, as of the efFective date of the appraisal: '� rn ive uses Alternat�vely, that use trom asnon� reasonable, probable and Iega1 alte at , found to be physically possible, appropriately supported, tinancially feasible, and which � results in highest land value. � b. Highest and Best Use - Subject Property. ' The subject properEy is zoned R-t, Single Family Residential. The highest and best use '� of the subjeet property is for a purpose similar ta the current use, whieh is a single family residence. .� ' '� � '� '� '� � ' � ' � '� _ McKiNZIE METRQ APPRAtSALS i , 1� - � �- � _ ' 2. LANQ VALUE (BEF�RE THE PRU3EC'T) ' The iand is f�rst valued as if it were vacant an�t a�aiiah{e far deveiap�t�ent in accordance ' with its determined hi�hest and best use. a. Market Saies Comparison Analysis: ' It is comm nl c n idered th n1 meanin ful method of a raisin unim roved o y a s attheo y g pp g p land, is the Market Approach to Value. The basis of this approach is the consideration ' that a buyer will pay no more for a property than the price at which he or she can ' purchase an acceptable, similar substitute, (also catled the rule of substitution): � ' The Market Approach is completed by researchrng sales of similar type properties to � use in a comparison analysis with the subject land. ' The tand sales cansidered most eomparabl�with the subject Iand are then selected for � direet comparisons. Each sale is then individually compared with the subject, with plus � and minus adjustments applied in accordance with the value influence. Each land sa.le, after the adjustments have been applied, will provide an indication of the subject land value. The subject value indications are then reviewed and provide the basis for the final conclusion of value. I have included in the Addendum of this report, more data ahout each of the land sales used for the direct comparisons. I have personally viewed the land of each of those sales. The sales chosen for the direct comparisons with the subject, were selected because of their better comparability with the subject. McK{NZIE METRO APPRAISAL - I8- , .� r , , _ _ __ . — _____ ------ _ __ __ _ b. Adjustment f'rocess Explaineci , The pages that follaw inc}ude an "Adjustment C;om anson Grid" On that rid P � > �djustments are ap�)ied for dissirnilarities for a number t�f considerations. Irthe ' subject land is judged to he superior to the land af a sale, a plus adjustment is applied to the sale price in an amount concluded by the appraiser to best reflect the extent of the subject's supenonty over the sale. � � Similarly, minus ad�ustments are a lied to sales rices where the sub'ect 1 � l Pp p � and ts � judged to be inferior to the land of the sa.te. ' 1: Time: � The tune adJustment is apphed to adJust a lustoncal salepnce to an � expected current price. Price increases in the general form of appreciation are reflected here. From my analysis of sales, discussions with Realtors and � developers, reviews of MLS sales summaries, and other research, I have ' concluded a reasonable time adjustment ta be 4% per year, (compounded), from the sale date to my value effective date. 2. Size: My comparisons are made on the per square foot or acre unit basis. On this basis, generally, as the lat size increases, the unit price decreases. Lots that are 50% larger than the normal size in an area, will not sell far a 50% higher price, all other factars being the same. Size differences are adjusted far here. 3. Shape: In general, very nanow lots with excessive depths are not as desirable as wider lots with adequate or good depths. For e�nple, a 100'wide lot with a 2Q0' depth, wauld typically sell for more tha.n an equal size lot 75'wide x 266.b7' deep. � Irregular snaped lats that include sharp"points" that are di.ffieult to effe.ctively , utilize, are inferior to rectangular lots. Shape differences are ad}usted for here. '� 4_ Topography: Generally relating ta the tenain features of the land_ Lots sfightly higher than the street, and with slight slopes to assist good drainage, are superior .j ta those below the street, or superior to flat lots to the extent that drainage may be �4 poor. Lots with steep slopes are also inferior to those without steep slopes. Topography dif�erences are adjusted for here. ', 5. Location: For residential lots desirable locational characteristics might include such factors as; neighborhoods of curving streets, slightly rolling terrain, smooth paved streets, curbs & gutters, newer well mainta.ined homes, good accessibility, convenient to centers of employment - education - entertainment - shopping - medical - church needs - etc., quiet & free of non-residential land uses. Undesirable residential locational characteristics might include: neighborhoods of; difficult access, dangerous high speed tra�c, unsightly poorly maintained � properties, noise (from any of many possib}e sources), odors, high traffic vatume ' McKtNZ4E METRO APPRAISALS � - I9- ' s � � ' _ _ __ __ _ - - -__ -- — - _ --- rc7utes, unprotecte;d tr�r�� n�n-residential i�sc encro��chr�icnt {commercial - ' industnat - etc }, aRd vther ne�,ative intluences 1_c�cation dit�erences are adjusteci 1or here � ' 6. Utilities - Street Improvements Pl�s ad}ustments are applied ta any sale wherc the . subject land is judged to he superior to the }and sale with eegard ta any or several of the following factors: puhlic water - public sanitary sewer - storm sewer - good ' i quality paved streets, curbs & gutters, natural gas, electricity, etc. Minus adjust- -� ments are applied where the subject la�nd is faund to be inferior to the tand sale for ' these considerations. '�� 7. Special Assessments: Existing special assessments against the subject land, or the � land of the sale(when assumed by the buyer and not already added on ta the sale price), are adjusted for in this consideration � &. Fill - Crradin - Subsoil: Lots with oor soils, or with wet areas ar in need af fill ' g P , or grading would be cansidered ir�f�erior to lats that are higher, well drained, and baszcally ready for development without the added costs of filling, grading, or giving up azeas to marshes or swamps. Plus or minus adjustments are applied here for such observed dissimilarities. 9. Zoning: Ad}ustments ar� applied here for e�risting zoning differences to reflect the affect ('rf any) on vatue. 10. Others: Ad}ustments could be applied here for any existing waterfront amenities, or "special views", or such. I have adjusted for "tree cover" differences here. My adjustments here take into consideration such factors as: density of trees, (how wooded is the lot?), species, (oaks or maples or birch or piries or cotton- wood or elms, etc_), location, (where on the lot are the trees?), health of the trees, and what do the trees actually do for the lot? A final word an these adjustment factors; There are no tables that one can refer to that will provide the appraiser with directions as to when to apply adjustments and how much of an adjustment to apply! It is a result of the appraiser's learned analytical skills from years of experience, and must be reasonable, logical, and consistent In the "after" appraisal particular attention is given special adjustment changes, {from those used in the "before"), to reflect the discussed affects on the subject property that resu}t from the taking. McKINZiE METR� APPRAISAL -20- , LAND V/� LUE ANALYStS ( BEFORE ) Fcc OWncr �'�Gh�ZIC�E'�, C & {� Property Address � 145�1 St_ �'�- , Comporablc Propertics Comp.�ison No. No. - No_ - No_ D-« o� s.<< 1f3i92 1 22 92 10 23 91 , naa«�� 1�802 Covi con Ave 399� 14 Roserpunt Lot 5 Blk 2 Lot Lo� 7 B k ' L`a•� °rc�;P`��" Carrollton 3rd Carrollton 1! No Addreas AdC�f1- �Clfl Tcrms o(Salc Cd$rl �U1VdleCTt CdSfl 1Vdl Gtantor !�pSg7ql,lf►t .� RQS�fql.glt . Rp , Gcancce W1fKhY�QC�CO.,Ine. t�nsrian . Inc. Sale Pricc , �Q ' Subjcct Fronta c �_� �� Dcpch Avg_ 149.41 122' 1 ' ` Arca,$q. � F`''''` 1�,689 T 10 370 . Ft. 11 'I �' 7oning - 1 e F�n. R-1 Si le FamRes. R-1 Si - � u�c� sai� P<«� p« .�r�, .112 Per Sq. Ft_ $1.777 Per Sq. Ft. $1.6Q5 P�r Sq. Ft � sq. r�. r. r., «<. Ad�usted Per Site Ad'ust Adjuscmcnc Adjuscmcnc Ad�uscmrnt Adjustmcnt Items Plus �finus Plus Minus Flus Minus '� Timc 876 - � - �� - Sixc - _ - " ShaPc - - - - - TopograPh3' - - - - _ Location �] -� Utilicics Sttcct [m . �J7 �7 9 Spccial Asscssmcnis Fi!!; GradinR-Sub Soit Zoning 1' - , Tout Adjustmcnt � Nrc Adjuscmcnc -Q�� -4.18 -19� ' Unic 5�1c Pricc o( Comparablc �� Cj�� Unir Sale Pricc o( Comp. Adjusccd co Sub. ��Q� �Q�Q� $�g�]Q� ESTIMATED VALUE OF LAI�ID I:� SUSJECT PROPERTY � ON BASIS OF COMPARABLE MARKET DATA: � 10,689 s �o re teec - et Per Site - � � � 9 co�iniErr��s: Tne adjustrr�nt to the Carrparable Sales have been made on a per site basis (total sale price} rather than per square foot. This most accurately reflects the way in which residerrtial lots � are bax�trt ar�d sold. , ' Because ail three sales are very simitar, T {�uve r�lied on a�I of thgn in reaching the final estimate of vaiue. � I�:1IFI �,,, John Z. Dahl Jar�.rar�2� 1992 ' - -- _ __ ---- __ --- ------ _--- ----- _ n;,��.�,F� i�.<< -- ----- - --- ---- - ___-- - ----------------_ __ _ -2� - " McKINZIE METRO APPRA(SALS � ' COST .�PPR�.ACH - BEFC)RE ' _.__ _- - ___ __--- ._ As outlined earlier, at the request of the City, I have not measured or inspected the house so as r�ot to inconvenience the residents The reason for this is that the im�rovements '' were not considered to he ai�ected by the project to any significant degree Therefore, the � Cost Approach was not completed. , �l McKPNZIE METRO APPRAISAL ) ' -22- � � ' ' INC C?R��t.E APPR:�AC'.�-i----BEF()RE ' Be�ause this is a sin�le family residenc� not rentec3 and owner c�ccupancy is typi4al, and in my apTn�on the highest and best use, the Incc�me Approach has not been employed in this appraisal. ' ' �� 'I � , McKINZtE METRO APPRAtSAL -23- , -- ------------------------ .. � ' � 1�gAi'.;CT_n('!'I�t��,�'1i BEFO�:E ' Due ta the pu;pose �f tl�is a�pra�sai ear�ier en�{ain�U, anu tl�e 1��n of evider�ce that the subject improvements wil( be si�niticantly impacted by the improven�ent projeet, the Market Approach was not completed for the whote property including land and , improvements. To inspect and appraise the improvements under such circumstances, tends to cause ' unnecessary inconvenience and privacy invasions to the property owners, and increases unnecessarily the project appraisal time and costs. I '� To work with a whole property value befare and after the impravement project, we will use our land value conclusian which was derived by a Market Approach, and add onto � that the lacal assessor's vatue for the improvements. � The assessor's values are aiso derived from the area market, but usualiy considered to be on the conservative side, so we will add a 10% factor to their impravements value before we add that to our land value. Land Value Conclusion from Page 21 = � 24,�Q� Plus Improvements (Assessor's $66,740 x 1.10) _ +$ 73.37Q Total Property Vatue= $ 93,970 By The Market Approach 'Before" The Improvement Project - ------------ McKINZIE METRO APPRAl5ALS -24- � ' ' FIN.�I, REC C?NC'ILiATIUN ANt�C:ONCLUS_I_UN -_BEFC)RE , The Cost �ppraach $ -0- The In�omz Approach $ -C- ' The Market A roach $ 93 974 PP � ��'�� The tinal estimate of value using the appraised value af the land plus the assessed value of the improvements plus 10% - before the improvement project is: ,` NINETY-FOUR TH4USl�ND DOLLARS ,� ($94,QQ0.04) ,� ' '� '� '� '�. � � � � � � McKINZ1E METRO APPRA(SAL �� -25- � , ' �� '� � � � � � PART IV ESTIMATE OF VALUE AFTER THE PROJECT � _ '� �� '� � � � � � �� ' ' HIGHEST ANn BEST_USE��4FTER THE_PR()JE('T) ' T}�e hi�}7est ar�d l��st u�e rernains tlte sar��e after the �roject as t�efore ' ,� 't � '� � � � � � � � � � � --- — McKINZIE METRO APPRAfSAL ,� -26- � ' , APPRAISE-_H � C�C)!��_MENTS K�C�.��RI�[NG THE APPKAIS.�t E)F THE PRQRER�E l` - -----_ _ .-- ---- "aFTER" THE EMP�t�VEMENTS ' -- - - _ _ -— --- F11vAL_AF"FER �v'AL.C�E ANU CONCL�JS_I.ON ' On the prz�ious �ages �f th;s re�ort the su�ject pro�erty has beer ap�ra�sed as ft ehists prior to the piannecl improvement pro�ect. ,, After completing the appraisal of the property "before" the impravement project, the next ) step is to consider t}�e improvement project, what it means to the subject praperty, how the subject property wi11 be ai�ected by the improvements, and ultimately how� witl the ,� changes to the propertv affect its marketability, or its fair market value. T;z question becamzs; in what ways has the subjee► pro�zrty b�en changed by the '� improvement projzct (outlined earlier in this repart), and to what extent do those changes affect the value of the subject property? M The bituminous paving was patched in places and in need of repair. The new paving and new concrete curb and gutter will have a positive af�ect on the aesthetics of the neighborhood. Driving will be smoother and mare pleasa.nt. The new curb and gutter Mgives a nice straight edge and is an impravernent aver the "before" situation where the �urbs were deteriorating. � At this location the water and sewer projects have a far less visible affect. Buyers are far less discriminatinb about the upgrading of this type of infrastructure. It has been our experience that questions regarding this type of infrastructure are rarely, if ever, asked, � whereas streets can be seen and opinions forrned. Another factor to consider is that the improvement project is an and in 145th Street West, which runs along the north side of � this property in front of the house, which has a greater affect than if the improvements were on a side. � Considering that there has been no change to the subject property itself, within the boundaries of the property, there are only a few places in the va.tuation process that are togical to adjust. They are: � 1. The value of the land that has been used in the Market Approach is positively affected more than the improvements. Because the "location" is now better due to � the sidewalk, curb, gutter, and street improvements, a positive adjustment can be made in the "location° section of the grid and/or to the "utilities and street" section of the land grid. � 2. The im rovements have a tessor ercenta e ad'ustment hut also have a ositive P P � J P locational adjustment attributable to the project. � --- McKlNZIE METRO APPRAISALS � -27- � � ' The cumulative chanbe is reiatively minar a»d can best be ter�t�ed as an i��pr�ven�ent to the aesthetics of the imrj�ediate neighbarhood ' if th� c}�ange ta the praperty were more profound such as pravidin�; puhlic utitities to the �roperty, which it did not previously have, a be#ore appraisal cauld be completed using sales, that like the subject, ]acked the utilities, and an after appraisal cauld use sales far a '; comparison analysis that had the utilities. This daes not appear to be the magnitude of the appraisal situatian here. I have therefore made the adjustments as outlined above. The � conclusion in the "after" situatian is as follows: ' '� �� ----- McKlNZIE METRCl APPRAISAL � -28- � ' LAND VALUE ANALYS i S f AFTER } F« oW�� Reehtziqel, C & R Property /lddscss 340Q 145th St. W_ ' Comporabtc Propertics Gomp.ri�ort No. No. ' No. - No. ' Dwtc ot Srl.c . �!3�� GG � . . . 1��3 �� .... nda«�: 19802 Covi Ave 391� Ros�na.a�tt Lot5 Blk2 L Ldi, 7 Bk ' L`a.t �`s"'P`�o° Carrollton 3rd Carrollton. i1 No Addreas �1. �1 Terms of Salc CdS(1 1Vdl� EdSfl 1Vd1 1� Gr�ntar R(JSHCIXD7� .� ROSQCbLA�Tt . Grantec 1 .�TCIC. �(15Rk](1 _ It'1C. Sale Price , � ,j s�b;«< . � F ron ta � 71.54' 85' 84' 80� Dcpch A . 149.41' 122' 140' , ti«=,sq. � F`n.t, 0,689i- S.F. 10 370 . Ft 1 zonina -1 Si .F�n. R-1 Si le FamRes. R-1 Si - un« selt ptitc per , .112 Per Sq. Ft_ $1.777 Per. Sq. Ft. $1_b05 Per Sq. Ft � Sq. r�. r. r_. «<. Ad'usted Per Site Ad' Adjuscmcnc hdjvstmcn� Adjuscmcnc Adiu.ccmcn[ Itcros Flus Ttirius Ptus btinus Plus Minus � Timc �76 � 1�3 Sizc Jhapc � TQpography Locat�on C�J7 6� u�;r�;« s««< <m . 1533 146 � Spccia) AsscssmcnCs Fi11; Grading-Sub Soit Zoning � 7ota) Adjuscmcnt � Nct Adjuscment }� l�� $ I 6� + 1 � Unit Selc Pricc o( Comparablc �1�(.� � � i9 � � Unir Salc Pricc o( ' Comp. Adjusccd to Sub_ ��(j� '�� '1 6� ESTIMATED VALUE OF LAND I�I SUBJECT PROPERTY � ON BASIS OF COhiPARABLE MARKET DATA: 10,G89 sq�orc feet - at Pet^ Sit�2 - � 22 700 � co�sn�cN�s: The adjustment to the C�rparable Sales have be�n made on a per site basis (total sale price} rather than per square foat_ This most accurately reflects the way in which r�sidential lots are bougl�t ar�d sold_ � - Because aIl three sales are very similar, I have relied on ail of tix�n in reaching the final estimate of value_ ��:�„� t,y John Z. Dahl _ Jat�uary_26, �992 I '� _. __. .- -_ __ _ ,,;,,,,.,,,. �,.,:� j _ _ -- , ___ _ _ _ _ ___ _ _ _ __ _ _ _ _ � -29-- � McKtNZIE McTRO APPRAISALS �� ' ' FIN�I, C'()NC'Lt;S_IQN ' The C�st an� Ir�eome Appraacl}es to GFalue ha��e n�t b�zn em�l�yed in this appraisal f�r the reasons outlined in the "before" situation. '': The Market Approach with the adjustments to retlect the "after" situation is as foliows: '� Assessed Value of Improvements �66,700 x 1.10 = $73,374 x 1.Q3 to reflect the projects impact on the improvements at this locatian = $ 75,571 ,� Land Value from the "Land Value Anal sis" Grid "Af�er" _ $ 22.700 Y ,� Total Land and Improvements �lfter = $ 98,271 Round To Say' $98,300 "Af�er" � � '! �.� '1 �1 '.� '� � '� -- McKINZiE METRO APPRAfSAL '� -30- � ' , �1�'PRA;S_ER'S CL�1MEn�TS t diseE�sse� the method of approach to the valuation of the i►n�rouements with N'Ir I , smundsc�n the Cit En<}ineer. It was decided so as not to inconvenience the residents O , Y b wit1� tl�e fu11 inspection process, that we would use the assessed valuation for the ' improvements. Because that assessed valuation tends to be on the conservative side of market �•a;ue, we have increased that amount t�y 10°o. 'I By following this process it allows us to work with the total property including both the land and the improvements. ' � 'I �� J � � �� M M � � -------- McK{HZIE METRO APPRAISAL � -31 - � ' , C'OMPARABI:E LAI�'D �ALE I�T�. R-2 INFORMATIC}N SCIURCE: Certificate of Real Estate Value ' LOCATION: 19842 Cavington Avenue, Rosemount, MN ,i LEGAL DESCRIPTION: Lot S, Block 2, Carroilton 3rd Addition '� DATE OF SALE: January 3, 1932 BUYER: The Windwood Co., Inc. '� SELLER: Rosemount Pro ertie �f ' p s o Mmneapolis ' � UTILITIES: Ali typical of city TOPOGRAPHY/SOILS: Flat and level Iand with goad soils '� SIZE: 85'x 122' = 10,370 Sq. Ft. ' ' SHAPE: Rectangular ) SALE PRICE: $21,9Q0 ' � TERMS: Cash equivalent ' 1 STREET OR ROAD: Bituminous ' � AMEI�ITIES: New residentiai development REMARKS: There is now a new house on the property. ' � ZONING: R-1 Sin le Famii Residenti 1 , g Y a � : ' ' `��`� ` �� ,� , ,,. �_ ' � .� _ _: ��. �� 4 �� . 4: . :h, x � . . t-. � r, :k � ' j ' �� -: � . . .... / . .. `_— . - . .. . 3'� q�1 ,' i ' �� .!�. �`..�i . ' �� I . .�.. + ` — � � .. . . I� ��'.�1ir . Y�YI�ra�v�s+�Mi�+�� ..•••• :. ' II� .�"' iSr �T' . . _. -�w1i'` «�. ' ( y . ... ___.,�yaaiypm•is..._.�..++.+'^r Y�^ - ..- ... . . . ��+ .fYB -32- ' ' COMPARABLE_ LAND SALE NO. R-3 ' INFORMATION SOURCE: Certitieate of Rea! Estate Vaiue LOCATI4N: 3915 147th Street, Rosemaunt, l`vIN ' LEGAL DESCRIPTION: Lot 11, Block 1, earroilton 2nd Addition ' DATE OF SALE: January 22, 1992 BI.TYER: Wensmann Praperties, Inc. , ' SELLER: Rosemaunt Pro erties of Minnea olis p P ' � UTILITIES: All typical of city TOPOGRAPHY/SOILS: Flat and levei land with good soils ,� � �_ SIZE: 84 � 140 — 11,760 Sq. Ft. � SHAPE: Rectangular ,� SALE PRICE: $24,90Q TERMS: Cash equivalent �� STREET OR ROAD: Bituminous AMElvITIES: New residential development � ';� REMARKS: There is now a new house on the property. ' � ZONING: R-1, Sin le Famil g Y � : '� r =� ��.- � � ' � ��`�Y� .: � z� � .�,. '� �= �� '�� ':�: ,� - ' � g r � `,l' � � . . � _ �� . �• �,-' � '� t.��.� ' r`. � ,,�� ,,. *-�'.c ' � . ... %-'r 'l _,.. �� . �� . ��9�.n��-„ �� :.rtio.wd -33- , '; CCIMPARABLE LAND SALE NO. R-4 INFORMATION SQURCE: Gertificate of Real Estate Value � LOCATIQN: 3938 149th Street West, Rosemount, MN '� LEGAL DESCRIPTION: Lot 7 Block 3 Carroltton 3rd Addition � , � DATE OF SALE: October 23, 1991 BUYER: Basic Builders, Inc. '� SELLER: Rosemount Pra erties of Minnea olis P p ' � UTILITIES: All typieal of city TOPOGRAPI-�Y/SQILS: Ftat and level land with good soiis ,� � , _ SIZE: 80 x I55 — 12,4Q4 Sq. Ft. ' � SHAPE: Rectangular ' � SAI.E PRICE: $19,900 TERMS: Cash ' _l STREET OR ROAD: Bituminous ' � AMENITIES: New residential development REMARICS: There is now a new house an the property: ' � ZONING: R-1, Sin le Famil g Y �.� 3;�� ' l `. ''�; �s � r;.��a - _� � �. _ _: t=---- �:° 1 �§ . � �. �sx..;� ._.� . ��_.:. ��.�: F ' � '�: � «, '�'" �y �; .:� � � _ .� ` � � .r 'F" � � , �:. , ��_ f;' . � 4�. "•.Y"L,� ,.. t : ' ± .ri •t: ,' _ r ._ , . -'�' t� F> ' -t r, �b j'• H � � -34- � � � � � � � � � � � � � � � �.._.r ...r.. �..�..; � � = � � �...� �....� _ _ _ _ . 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N WAT : � CWeM � �7i � - ■ � � DOlA1HICA YE• � � . = f S e�. . . i� � ,�.. I � i i � DMJ E Ll,y�, �{ OELFT�=� � ot��,��,v �a y��r� '6� �� -�i r�"n � 1 y o � � •- yF " }D. ti9 � 2 A . {� f � �! N �' � �A AYE. AV[.� OEKAI��lb �. � � �C'7 �� N '�R� NYIIIE � '� ° _ �nrtl i��'�' -�+i w . O � � o �� 9� _ " °rfE< �v � £ 3 g � � i� '� � �r 3 x �' ~ y � . Q, f• AVE� � � O�YfN►011T� Ci X A r g�1 4 OAHVIIIE� _. , p ��. •. .. �� O 'b r �f A� o,yy DANV�IE AYF D ��Ry A 7mp � � i *y y�DA NF(,� AVF N � �AM6UftY MAY D . $ i a . Y �� .~. tA'1 � . � p � ♦ � S 4y1^ � D�HUlE lA "� ' � .Z7 �. ... y � -'^i Yt�Nro'� AMAS N � r a�ti a wiNwAvl)CT` f I � . A a a �t H �,v ;:;�A;Yt. = I � E� p �r Q7 J . 3NANMON PK ; 'fr�,vO �DALIAR W y = �'�'OFA `f AH6URY CT z � (^' , 4000 I m TONf IA 1 .�i .� ' — — ••- — „� —, I n � � � � CRES C Mt w` SHANNON PKWY � ~ �',R � W , � X ,� SNKM AV w A � „ � 4 Cig Y � D CP7 n .� 1� � � i�n�r �NO� AYt ? Ct � .. '. . C� � A��'F� OIUM�A�T C�� Qy� A AY[ y � � ' '�++� ■ f� � � N [� f, fD . CKf C`� UMT A�YtN (�MMA AVE. An � }O AVC. C`�MAA(ION/+vE � � 9�/y = � fr�'1 r w o � —� : � � - � �y -, � � ��a N CNRT lE AY ��. �� e w � I � , A Q s i -� "� _ � p R � '1 � . � N, y .. z� � .' ; � : Sro I A '�'E lA � CHI PEN ALE A E. W. NORLE e yE RD. 9 a � �� ,� o w . R D, 3 9 > a� AtE AY . � � ( �HINCHI��A AYE. Q y O yY � y � AY[ N��• C M I ll Av �w� � � � I C CNAr STON � AVC= � 0 VE, � E�y m , ./ � �-~C ' v . CHIMCHILLA CT . . N W�Y y �.�U S � .. F� � . . �, �� . . �«_ � ' �� ; �""'� I y�R x � 3 . 0 o y yN y ' � y CANIATA �� o '. � (N y � ,� 7% CAN�o ,y =i =. z Ar[ �� y ( � �H� �1 -p f. CANADA AY[.DA „ -�i :;:. AVE , �� 8 ��n :� � '� � �`�t rOM £ � W J�+ � CAM/I(IDCIR V f�. •; �^ � A . � ' � � �,7 � � I � CAMt�10 U ~ :�:. y , ! z = � . � �n CAMEO AVE. � I � � CAMtRIAN r p = � n 5�� — _ — W _ _ ^ N ' AVE. ''� .. � � i 3WOO I . . IJ � . . � — � � . — . 0 'I � Nr !U A �vt �� sueaunor �vE ROBERT TR. S O QQ � I N � . � + uen�Er � vE .�� .,. ;,�-�, �uniiAm�3t s � .. . _ � � . � �ti . . � D e�Aj�t. lROWHfOHAN[� AYF � � ^� ' o .t~ Y RO an . I �1V HA � � .. �i 2 . w -/ . ' ,`r. .Z' � � , � � � � N S a 4 . . I . � .. '�' I �NtUN�0�1U AY[ � I. y. O y ��liVl Y[. .'�' � � . � . . n .� e � � .n . � �� —� �` I j lf � - � ' � ' ' ' � ' �, � Mcl4inzie �' Metro � � � Apprafsals "BEFORE" AND "AFTER" APPRAISAL OF BENEFITS CREATED BY THE ROSEMOUNT CITY PRO�ECT N0 . 235 WNICH INCLUDES STREET , CURB & GUTTER , STORM SEWER , WATER , AND SANITARY SEWER REHABILITATION FOR : THE CITY OF ROSEMOUNT PROPERTY LOCATION : 3320 145TH STREET WEST ROSEMOUNT, MINNESOTA BY : JOHN Z . DAHL , M . S .A . JANUARY , 1993 � � ' ---- ---- �� }�-\k3Ll: (}F ('(>N�1 E�:ti�1-S � E'.AC�E-: tif) �I ' " I�t [_E-: I'A(iE AI�`D C'OVE�:R I ' TAi�i.E Oi' C'ONTEIV'TS I'.�R�I I - INTRODUCTION ' . _ _--___---_ LETTiR OF TRANSMITTAI. .��C? C�ERTIFICATION CF �'ALUE i � � ' PHOTO�RAPHIC MOUNTINCJS - SUBJECT PROPERTY � , '" ASStIMPTIONS AN-D LIh'IITi�v'G CONDITIQNS 4 � APPRAISER'S CERTIFICATION 5 PART II - �A�TUAL DA'£A 1. PURPOSE OF THE APPRA.ISAL a: REASON FOR THE APPRA.ISAL � b. PROPERTY RIGHTS APPRAISED 6 c. DEFII�TITION OF MA.RKET VALUE 6 2. OWNERSHIl' DATA AND LEGAL DESCRIPTION 7 3. AREA ANALYSIS 8 4. PROPERTY DATA a. SITE ANALYSIS 9 b. DESCRIPTION OF IMPROVEMENTS 9 c. HISTORY AND PRQPERTY RECORD DATA 9 d. TAX DATA � e. ZONING � -------------- McKINZiE METRO APPRAISALS � , ------ — -_ �� T��'lE3(.F�: OF C,'(.)N�l�F �i [�fi ��'f)��I ) �'AGE: N� ---____ _ ' S , � R'{A i S '; a ��IETR<) ARE:A I_UC'ATIJ� ��.�+P }0 ' b D.AKOTA COt1N"TY LOCATION MAP 1 } '� � c SUBTEC"F AKEA S"I�REE"i' MAP �2 'i d. PI�03ECT L�CATIf�N MAP �� e. `LONINC MAY �� ' t. BUILDING SKETCH 15 PART III - ESTIMATE OF VALUE BEFORE THE PROJECT THE APPRAISAL ASSIGN1�qENT 16 1. HIGHEST AND BEST USE (BEFORE} a. HIGHEST AND BEST USE DEFINED 17 '� b. HIGHEST AND BEST USE - SUBJECT PROPERTY 17 � 2. Larm v�,uE (BEFo�� 1 s 1 a. MARI{.ET Sf1L,ES COMPARIS�N ANALYSIS ig '� b. ADJt7STMENT PROCESS EXPLAINED 19& 20 LAND VALUE ANALYSIS (BEFORE) 21 COST APPROACH(BEFORE) 22 INCOME APPROACH (BEFORE} 23 MARKET APPROACH (BEFORE) 24 FINAL RECONCILIATION & CONCLUSION (BEFOIZE} 2S - ------ --- McKiNZfE METRO APPRAISALS , , I ��}3[.��-(�t'-C_U N t (-:N ! S_�C'C}N f ) P,�1Ci E-: IV(). ' __ _ _- �'AR7� {�� - E;S�TIMATE(JF VAI,,U� AFZ�FR THE PRQ1_EC'T ___ _ __ ' HIGHEST AND BES�T� USE (AFTER} �� AFPRAISER'S COMI�IENTS � C:�NCLUSI01�' 27 - �� '� PART � - AD�ENDUM I , APPRA.ISER'S COMMENTS 31 � COMPARABLE SALES �2 - �� ' COME'A.RABLE SALES LOCATION MA.P 35 � � CQ�TY FROFILE - ROSEMOUNT � APPRA.ISER'S QUALIFICATIOI�IS* , � *INCLUDED IN SEPARATE SALES DATA BOOKLET � � � � � . � � McKiNZIE METRO APPRAISAL ,� � ,' ' Pfo�ess�o�aE F�n Serv�ce app�a�se�s 2174 Thi�d Street,Suite 200 • Wtiite Bear Lake,MN 55i t0 - (612}42fi-7144 ' , , � II I I � � VINCENT E.WHARTQN 'S.A. , /Y/CKttlZle MB�fO AP�rd�S2I JONN Z.DAHL,M.S.A. JONATNAN G.KRUEGER WfLUAM E.McCLELLAN,C.R.�.A. Serving All Areas ot Appraisat Needs '? . t('1(l� � . . FebrUa,y �, ,ti>� '' t Mr. Bud C7smundson, P.E. '; City �ngineer &. �ssistant Public l�'Vorks Director City a#Rosemount 2875 145th Street West, P.O. Box 510 '� Rosemaunt, MN 55U68-U510 '� RE: Benefit Appraisal for Nelson Praperty 3320 145th Street West � Rosemaunt, MN ' Dear I�1r. Osmundson, � Accom an in this i�tter a�e two copies af a "Befare" and "After" Appraisa� Repart for P Y g the above captioned property. '� As a result of our request, I have campleted this appraisal for the purpose of forming an Y opinion as to the amou�t of"�enefit" to the praperty in the forrn of increase in value, that � results from the street, curb & gutter, storm sewer, water, and sanitary sewer rehabilitation improvement project past the area of the subject property. � My estimates of the market values for the subject property as of January 2b, 1993, are as follows: MAfter: $ 96,500 Before: $ 92.200 � Difference Shows A Benefit Conclusion Of: $ 4,300 � An explanation of the appraisal process, a description of the property, plus a market analysis and conclusion, are included in this repoR. � � Members of: � AMERICAN SOCIETY OF APPRAISERS MINNESOTA GOV�RNMENTAL APPRAISERS AMERIGAN RIGHT OF WAY ASSOCIATION PROVIDING A WIDE RANGE OF APPRAISAL SERVICES ' ' 1 an� ►�etainin� a coUy at`this rep€�rt in ��ir t�les tc��ethe�� with the tielcl notes �nd additional dnta frc,n� which r��y appi-aisal has beer� �repare�i ' The cc�nciusions �f market vaiue presente� in this report are contingent upon tFe L.imiting C�onclitians whi�,h are included in Part 1 at�this report. '' Sineerelv yours, ' '9 3ahn Z. �ah}, 1�1.S.A. ', Certified Fedzral General Appraiser State af Minnesota { ) � License #4001146 ,� McKPVZIE 1�gETRO APPRAISAL,S ' JZDlcj � '� � � � � � � � � '� � --2- ' � ' �; PHOTOG RAPHS ' Property Owner : James A. & Angeline Nelson Property Location : 3320 145th Street West , Rosemount , MN ' DESCRIPTIONS °� , � � � .. � � � �, �� Photo No . 1 �� Front view of subject. � ;� � ' � I' ;' I r � � � � � ' Photo By : �ohn Z. Dahl Date Taken : �anuary 26 1993 _ McKiNZtE METRO APPRAISALS ' -3- ' � .� ASSUMPTIONS AND LIMITING CONDITIONS ' The property has been considered as though it were free and clear-of any indebtedness, liens, or encumbrances; and that said title is good and marketable, and competent ' management is assumed, unless otherwise stated herein. No responsibility is assumed by the appraiser for matters which are legal in nature. No ' survey has heen made, and it is assumed that any improvements are located within the legally described property and that the buildings, if any, comply with all ordinances. ' Any sketches and pictures in this report are included mainly to assist the reader in visualizing the property, and are not guaranteed to be 104% accurate. ' The appraiser has no present or contemplated interest in the property appraised, nor is his employment in any manner contingent upon the value reported. ;� Possession of the report, or any copy or part thereof, does not carry with it the right of publication. Further, all of the data contained herein must be used as a whole. Any page or portion taken out of context cannot stand alone, and invalidates the entire appraisal. � The appraiser herein sha11 not be required to appear in court, or before any governmental hody by the reason of the completion of the assignment without predetemuned �' anangements and agreements. The data contained in this report is in no sense guaranteed; but has been gathered from !' reliable sources, and the appraiser certifies that to the best of his knowledge and beiief; the statements, opinions, and nnaterials contained in this appra.isal subject to the abnve.iirniting ' conditions, are correct. Any cost data used herein is taken from charts and material maintained in our office and ' constantly kept up to date, based upon local labor and material costs in and arc�und the area of the subject property. ' Neither all nor any part of the contents of this report shall be conveyed ta the public through advertising, public relatians, news, sales or other media, vvithout the written consent and approval of the author, particularly as to vaivation conclusions, or the identity ' of the appraiser or firm with which he is connected. Soils tests for contamination can be very costly, and are not the responsibility of the ' appraiser. Without any test results, the property is assumed to be free of any soil or water contamination. If later tests were taken and any contamination were found to exist on the site, the appraiser would reserve the right to revise his appraised values to reflect the ' newly discovered factc�rs ' -4- ' ' , AP_PRAISER`S_CERTtFI(,rATif)N This is ta certity that the undersi�ned has made an ext I�rnal inspection of�the praperty ' described as 332Q 145th Street Wzst, located on the s�uth side of 145th Street West, and a few biocks west of the Rosemount downtown b�siness district ' The appraiser also certities that ali tindings, statement� and opinions submitted in this report are correct to the best of his knowiedge. I ' Th;s appraisat has been prepared far the City af Ros�r�ount, for the purpase of estimating the present market value of the subject before and the,�enetits to the praperty after the ' compietion of the street, eurb & gutter, sanitary sewe�, storm sewer, and water improvement project. a �,, ' The valuation estimates certified below are not contin�ent on any monetary fees ar interests whatsoever. "' ;' ,� The appraiser has na present or prospzctive interzst ini jthe su�ject property, and the fee agreed upon is in no way related to or contingent upo�the value reported. ;, '� It is further certified that this appraisal has been made��:in confornuty with generally accepted professional appraisal standards. ,� The market value of the ro ert as described herein and sub}ect to the assumptions and P P Y limiting conditions of the report is certified as of January 26, I993, to be: � r: $ 9b 500* Afte , � Before: 92 200* Estimated Value of Benefit: $ 4,300 � CERTI�"IED BY: � � John Z. Dahl, M.S.A. Certified Federal General Appraiser (State o�Minnesota} � License �#4001 146 McKIN�iE METRO APPRA1SaLS � *Please refer to the "A r�iser's Comments° in the Addendum of this repart. Pp -------------- McK�NZiE METRO APPRAISALS � -5- � ' --- — __ _ � I {'l!Rf'(}SE U1- �{�} kf��: :�I'('K��i�S.��l. ' a R�=r�SC)N FOR ( f-1[= AP{'K;\fS��l. Tttis ap��rai�al h�ts ��een c�n�pleted f:or tl�e purpose of�esti��atin� the market v�(ue c�f ' f}12 SLf�3�2C1 pf�(?efiV, �)eiOf� c111�"� �lft�i the itr��ra�e�j�ent pr�ject to arrive at an c,�7(i1i0i� �t�the benefiit to the pr��perty�. ' b PROPERTY RICiHTS APPRAISED: Property ri�hts appraised in the "before" ' appraisal are all of those rights inherent in fee simple tit{e. The "after" appraisal also considers all af those rights inherent in fee simy�le titte. , c. DEFINITION OF NIARKET VALLTE: Market value means the most probable priee ; which a property should bring in a 'i competitive and open market under alt eonditions requisite to a fair sale, the buyer and seller, each acting prudently, and knowledgeably, and assuming the price is not 1 affected by undue stimulus. Implicit in this definition is the cansummation of a sale as , of a spec'ified date and the passing of title from seller to buyer urider conditions whereby: I� 1 Bu er and seller are t icall motivated; � ) Y YP Y (2) Both parties are well informed or well advised, and both acting in what they � consider their own best interest; (3) A reasonable time is allowed for exposure to the open market; (4) Payment is made in terms of cash in U.S. dallars or in terms of financial � arrangernents comparable thereto; and (5) The price represents the normai consideration of the property sold unaffected by special or creative financing or sales cancessions granted by anyone associated with � the sale. � � � � � -- ----McKfNZiE METRO APPRAISALS ' -6- � ' , 2 �JWNERSHIP p�TA AND LE_GAL DESC:RIF'TIC}N , OWNERSHtP The subject pro�erty ;s owned by� .iames A & �nge►inz Nelson. ' , ' , LEGAL DESCRIPTI�N: AUDiTORS SUBDfViSION NO 27 PT OF LQ1' 12 COM AT PT 278 FT W OF SW ' � COP.LOT 1 t �Y' 72 FT N 1 S�J FT E 72 �'T S 150 FT TO PLA�E �F BEiI7VN1I�1G. ' � � _ , ' ' � 'I � � � � '� � ' � � ----------- McKINZIE METRO APPRAISRLS , -7- � ' , 3, AREA �N�,LYS1S , Thz subjeLt is located orE the south side of 145th St�eet L�'est and a few bl�eks west af the Rasemount husiness distnct 14Sth Street West is a main east-west artery and the area is ' an otder established residential nei�hborhood. ' , '' '� , � ' � 'J :� � _� ' � � � �J ,� � ---------- McKINZIf METRO APPRAISALS ' -8- ' , ' 4 �'P.aPERTY DATA ' � Sit� At7alysis ' The site is Iocated on the south side of ]45th Street West and has 72 fzet of t`rantage on 145th Street West, is 15Q feet deep, and contains l-0,8Q0 sc�uare feet. The SiiB IS j�Vci ati� �iuS SeVzt3i ti22S. ' b. Descri tian of Im rovements: P P ' So as not ta cause an incanvenience to the hameowners, the City has asked us to only view the pr�perty t`rom the street, which is what we have done. '� The hame is an older 1.5 story type with wood siding and asphalt roofing. For the purpose of this appraisal we are using the assessed value of the home, and since that value is usually on the conservative side, we are increasing that value by 10°l0. �� c. History and Property Record Data: '� : The County records indicate that the home was built iri 1950. � d. Tax Data: ' The Property Identification Number is: 3320-03840-130-I2 � The Assessor's Estimated Market Value is $16 900 for the land and $65,100 for the , buitding, or totally $82,000. The real estate tax payable in 1992 was $360. � e. Zonin : g � The subject land is zoned R-1, Single Family Residential. � � � � � ----- - McKINZIE METRO APPRAtSALS ' -9- � � • � , '•c '�\ � �cn '�..^,� . y_ -'� .F i oua�.a�.v.4 ��'�� /.' � � � �y 1�ay{�Q � � „ ' ,.n_y �� % .. �:�uqi � � i�w�_ ,�r�-.. B � �<a`�� ` �°'/.d��M��M'!,�°��,,�iY�i F��; 1�;�""��1�i�A�r .r�(�i;��_ �M i�'�+ . � j �,�,s��tt',aG 1� , �� ,��% ��'T �.e. ;;��` �I��'��,�Y� 1 � �/ ��• � .� �. o � ��41��d�� :��'�. r-: ,i h .. I� �� _. , � � :o`�^ y - -- �,� � �� ?�/��4�� p 4' � p ��i}��' �i �� )°vr"'e,�,� . � , ... �� '`�� `r�t� , � , i��'.�-,j;�.�'(.:� � ;��,� r - ;�'�� V�,t'"� �� T_F� �! 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Ft_ McKIN21E METRO APPRAfSALS '' - 15- ;:■ �' f1 � �� 1 [. -r � � � PART III [' ESTIMATE OF VALUE BEF(�RE THE PRQJECT � i , [' ( ' ' ' ' ' ' ' ' ' THE APPRAISAL ASSIGNhTENT , ---- --------- ' The purpose of the appraisal is to estimate the benefit derived from a project described as fallows: 1. Street impravements includin� repaving and the reconstruction of curb and gutter. ' 2. Storm sewer improvement. ' 3. Sanitary sewer improvement. ''' 4. Water impravement. ' . � ' 1 i __._ __________-_._-__-- McKINZiE METRD APPRAISALS— - 16- ' 1. HIGHEST AND BEST' USE (BE�'ORE THE PROJECT} ' a. Highest and Best Use Defined: ' Highest and Best Use is defined as: That reasonable and probable use that will support the highest present value, as defined, as of the eftective date of the appraisal. � Alternatively, that use from among reasonable, probable and legal alternative uses, � found to be physically possible, appropriately supported, financially feasible, and which , results in highest land value. ; b: Highest and Best Use- Subject Property. ' The subject property is zoned R-1, Single Family Residential. The highest and best use � of the subject property is for a purpose similar ta the current use, which is a singie family residence. ti , � � - - --�- -- McKiNZiE METR� APPRAISALS - 17- , 2 LAND VAi.UE �BEFORE THE PR03ECT) �I ' The land is first valued as if it were vacant and available far development in accordance ' with its determined highest and best use. ' a. Market Sales Comparison Analysis: � It is commonly considered that the only meaningfi.zl method of appraising unimproved ' E land, is the Market Approach to Value: The basis of this approach is the consideration that a buyer will pay na more for a property than the price at which he or she can � purchase an acceptable, similar substitute, (also called the nzle of substitution). ' The Ma.rket A roach is completed by researching sales of similar type properties to i PP � use in a comparison analysis with the sub}ect land. the land sales considered most com arable with the subject land are then seZected for � T p direct comparisons. Eaeh sale is then individually compared with the subject, with plus � and minus adjustments applied in accordance with the value influence. Each land sale, after the adjustments have been applied, will provide an indication of the sut�ject land � value_ The subject value indieations are then reviewed and provide the basis for the ' final conclusion of value. I have included in the Addendum of this report, more data about ea.ch of the land sales used for the direct comparisons. I have personally viewed the land of each of those sales. The sa.les chosen for the direct comparisons with the subject, were selected because of �i their better comparability with the subject. ' - ---- _ McKINZIE METRO APPRAISALS _ _ -- - IF3- . _ . .. .Y . . . ' . . . . .. � .. .. . . . � . . . . .. .. .. . . . . � �.� . � .. ' -- -- — b. Adjustment Process Expiained. ' �� „ The pages that follow include an Adjustment Companson Grid . On that grid, adjustments are applied for dissimilarities for a number of eonsiderations. 1f the ' subject land is j�dged to be supenor to the !and of a sale, a plus adjustment is applied to the sale pnce in an amount conc►uded by the appraiser to best reflect the ' e�ent of the subject's superiority over the sale_ Similarly, minus adjustments are applied to sales prices where the subject land is ' }udged to he inferior to the land of the sale. 1. Tune: The time adjustment is applied to adjust a historical sate price to an e�ected current price. Price increases in the general form of appreciation are ' reflected here. From m anal sis of sales discussions with Realtors and Y Y , �' deveiopers, reviews of ML.S sales summaries, and other research, I have concluded a reasonable time adjustrnent to be 4%per year, (compound�), from , the sale date to m vatue effective da,te. � y ' 2_ Size: My comparisans are made on the per square foot or acre unit basis. On this basis, generally, as the lot size increases, the unit price decreases. Lots thax are S0%larger than the normal size in an area, wi.tl not sell for a 50°/`o higherpr�ce, ail other factors being the same. Size differences are ad}usted for here: : 3. Sha.pe: In general, very na.rraw lots with excessive depths are not as desira�ble as wider Iats with adequate or good depths. For exampie, a 100'wide lot with a 200' depth, would typically sell for more than an equal size Iot 75'wide x 265.67'deep. Irregular sha.ped lots that include sharp "points"that are difficult to effectively � utilize, aze inferior to rectangular lots. Shape differences are adjusted for here_ 4. Topograpky: Generally relating to the terrain features of the land. Lots slightiy higher than the street, and with slight slopes to assist good drainage,are superior to those below the street, or superior to flat lots to the e�ent`that drainage may be poor. Lots with steep slopes are aiso inferior to those without steep slopes. Topography differences are adjusted for here. � 5. Location: For residential lots desirable locational characteristics might include such factors as; neighborhoods of curving streets, slightly rolling terrain, smooth paved streets, curbs& gutters, newer well maintained homes, good accessibility, convenient to centers of employment - education - entertainment - shopping- medical - church needs - etc., quiet& free of non-residential land uses. Undesirable residential locational characteristics might include: neighborhoods of; difficult aceess, dangerous high speed traffic, unsightly poorly maintained properties, noise (from any of many possibfe sources), odors, high traffic volume McKfNZIE METRO APPRAISAL _ 1g_ ' routes, unprotected from non-residential use encroachment (commercial - ' industnal - etc.), and other negative influences. Location differences are adjusted for here. ' 6. Utilities - Street Improvements: Plus adjustments are applied ta any sale where the subject land is judged to be superior to the land sale with regard to any ar several ' af the following factors_ public water- public sanitary sewer - storm sewer-good quali ty paveci streets, curhs & g utters, naturat gas, electrici ty, etc. Minus ad just- ments are applied where the subject land is found to be inferior to the land sale for , these considerations. � 7. Special Assessments: E�sting special assessments against the subject land, ar the ' � land af the sale(when assumed by the buyer and nat already added on to the sate price), are adjusted for in this consideration. � 8. Fill -Gradin - Subsail: Lats with oor soils or with wet areas or in need of fill ' g � ' ' or grading woutd be considered inferiar to lots that are higher, well drained, and basically ready for development without the added costs of filling,grading, or giving ug areas to marshes ar swamps. Plus ar minus adjustments are applied here for such observed dissimilarities. 9_ Zoning: Ad}ustmeuts aze a.pplied here for existing zoning differences to reflect the affect(if any}on value. 10. Others: Adjustments cauld be applied here for any existing water&ont amenities, or "special views", or such. I have adjusted for "tree cover" differences here. My adjustments here take into consideration such fa.ctors as: density of trees, (how woaded is the lot?}, species, (oaks or maples or birch or pines or coiton- � wood or elms, etc.), location, (where on tlie lot are the trees?),health of the trees, and what do th�trees actually do for the lat? ` A final word on these adjustment factors; . There are no tables that one can refer to that will provide the appraiser with directians as to when to apply adjustments and how much of an adjustment to apply! Tt is a result of the appraiser's learned analytical skills from years of experience, and must be reasonable, logical, and consistent. In the "after" appraisal particular attention is given special adjustment changes, (from those used in the "before"), ta reflect the discussed affects on the subject progerty that result from the taking. � McKfNZfE METRO APPRAISAL ' -20- ' � AND VALUE ANALYStS fBEFORE ) F�� oW�« J�T12S A. Sc AfK�2IltlE' IV�ISOCt----Propc�ty nad«Sz 3320 t45th St_W_ ---- ' Comporabtc Propertics Comp•r�son No. Ato. — No_ — No. ' o�� or s.i� 1/3l92 1 � 92 10 23 �ad«,S 198Q2 Cc�vi Ave 39t Rosanamt Lot5 Blk2 L Lct� 7 B ' L�a.► D�s«<��;o� Carroll�ton 3rd Carrollton i( No Addre�s f�JC�CI_ �1 i Tcrms ot Salc CdS�1 lVdl� CdSfl 1Vdl '� Grancor �SHfX)1.6Tt . �OSHTbI.A"ft .� ��.�«< i ,roodCo.,Inc_ Wertsrr�an _ Inc. . � s�i� pt�« , 9QQ ' Subjccc Fronca c �� Dcpch 150'Av : 122' 1 ` - ' n«=,sq. �`.h` 10,80f1� S.F. 10 370 _ Ft. 1 Q!'!:� . � . . . z_o�;��. R-1,Sing. am. R-1 Si le FamRes. ,.R-1 i - un<< �.t� p«« v�r . �; .112 Per Sq. Ft. $1.777 Per. Sq. Ft_ $1_605 Per Sq. Ft �Q. r�. r. r., «<_ Ad�usted Per Site Adjuscmcnt Adjuscmcnc Adjuscmcnt Adjuccmcnr Iccros Plus 1.tinus Ptus 1.{inus Plus Minus Timc �� _ Sizc Jhapc Topogrzphy Location 6� lK7 Ucilicics Scrcct lm . 597 $pccial Asscssmcnis , FiU; Gradiag-Sub Soi1 . . Zoning ; '`: Tocal Adjustmrnt� > �:� ri« na;us�m�nz -$ 438 -$ 418 -$ 191 tlnic SaTc Pticc "of Comparabic �l y� �a� ��9�� UnorSaic Ptice o( � ;, Gomp_ Adiusccd co Sub. �1�� 9�� r;- �" s' ' ESTIMA"I'ED VALUE OF LAflD I:� SUHJECT PROPERTY� ` ON BASIS OF COhtPARABLE htARKE7 DATA: 1Q�� squorr feel- _ et �T' Slt2 - S �'� co�+n�EN��s: The adjustment to the Carrparable Sales have been r►�de on a per site basis (tatal sale price} rather than per square fart. Th i s rr�st aecurately ref lects the ulay i n ufi ich res ident i a l lots are bou�t ar�d sold_ � Because a 1 I three sa 1 es are very s imi 1 ar, T have re 1 i ed on a 11 of tt�n i n reach i rxj tt�e final estimate of value_ �,,�� t��, _ John Z_ Dahl January 2'b, 1992 �„ -,,,, �,.. , - , _ -21 - __ McKINZIE Mi= TRO t�PPRAISIIt_S ' ' C_O_ST APPROACH___BEFQRE As outiined eartier, at the request of the City, I have not measured or inspected the house ' so as not to inconvenience the residents. The reason for this is that the impravements were nat considered to be af�ected by the project ta any signifieant degree. Therefore, the Cost Approach was not campleted. ' ' ' �� ! � � ' � , _ ----------- - ----- - McKfNZiE METRO APPRAISALS � ' -22- , ' INC�ME_APPROA_CH__BEFORE ' Because this is a single family residence not rented and owner occupancy is typical, and in my opinion the highest and best use, the Income Approach has not been employed in this apgraisal. ' � ,, ii '} � ' � ' : ,� ' � ' 1 1 � - -- -- ----- McKIN�IE METRO APPRAISALS � � -23- ' — ' 14�A;:YET.AP_PRC)ACI--I - �EFflnE ' Qi32 t� tFe pLit�3�S2 vi t�iiS a�}j'ir��sal earlier e�plained, �i"iu t�i� �aCii Of eL'iu�TiCE iil�t t�i2 subject improvements will be significantly impacted by the improvement project, the Market Approach was nat completed for the whole property including land and ' improvements. To inspect and appraise the improvements under such circumstances, tends to cause '� unnecessary inconvenience and privacy invasions to the prapzrty owners, and increases unnecessarily the pro}ect appraisal time and costs. '� To wark with a whole property value before and after the improvement project, we will use our land value conclusion which was derived by a Market Approach, and add onto '� that the local assessar's value for the improvements. The assessor's values are also derived from the area market, but usually considered to be on the conservative side, so we will add a 10% factar to their improvements value before we add that to our land value. � Land Value Conclusion from Page 21 = $ 20,600 '� Plus Improvements(Assessar's $65,100 x 1.10)= +$ 71,610 � Total Property Va1ue= $ 92,210 � By The Market Approach "Before" The Improvement Project ,J 3,b#�c � . . . � . .. . . .. . �� . � . µ�._,�`y . . � . Nd�.in�;., � � . . �{s�r` � ` �`r,� i�4 � . . �FY.t. �, �� ' ��.��.. .. � ' ' � ; - -- McKINZiE MfTRO APPRAISALS I � -24- ,+ ':� FINAL RECONCILIATION_AND_CONCLUSI�N -BEFURE � '� The Cc�st Anproach $ -�- � The Income �pproach $ -�- '` � The Market Approach $ 92,200 � '` , The final estimate of value using the appraised value of the land plus the assessed value of � the improvements plus 10% - before the improvement project is: �' NINETY-TWO THOUSAND TWO HUNDRED DOLLARS �� ($92,200.00) �� .� � ' � � � � � � � � � � — ---- McKINZIE METRO APPRAISALS � -25- � , ' ' i 1} 1 l � � � PART IV ESTIMATE OF VALUE AFTER THE PR4JECT � � � � � � � � � � � , ' HIGHEST AND BEST USE (AFTER THE PROJE(:T) ' The highest and best use ren�ains the sam� after the project as before. � � '� ,� � � � � � .� ' � ' � : ' � � , � - - McKINZiE METRO APPRAISALS � -26- � � , , APPRAISER'S COMIVIENTS REGARDING THE APPRAISAL 4F THE PROPERTY "AFTER" THE IMPROVEMENTS ' FINAL AFTER VALUE_AND CONC_LUS_ION � k On the previous pages of this report the subject property has been appraised as it exists '� prior to the planned improvement project. i-} After completing the appraisal of the property "before" the impravement project, the next � step is to consider the improvement project, what it means to the subject property, how the subject property will be affected by the improvements, and ultimately how will the � changes to the property affect its marketability, or its fair market value. The question becomes; in what ways has the subject property been changed by the � improvement project (outlined earlier in this report), and to what extent do those chanbes affect the value of the subject property? � The bituminous paving was patched in places and in need of repair. The new paving and new concrete curb and gutter will have a positive affect on the aesthet�es of the neighborhood. Driving wili be smoother and more pleasant. The new curb and gutter ,� : gives a nice straight edge and is an improvement over the °before" situation where the curbs were deteriorating_ � At this location the water and sewer pro}ects have a far less visible affect. Buyers are far less discriminating about the upgrading of tlus type of infrastructure. It has been our experience that questions regarding this typ�of infrastructure are rarely, if ever, asked, � whereas streets can be seen and opinions farmed. Another factor to consider is that the improvement project is on and in 145th Street West, which runs along the north side of '� this property in front of the house, which has a greater affect than if the improvements were on a side. = Considering that there has been no change to the subject property itsel�, within the � r boundaries of the ro ert there are anl a few laces in the valuation rocess that are P P Y� Y P P logical to adjust. They are: 5 1. The value of the land that has been used in the Market Approach is positively afFected more than the improvements. Because the "location" is now better due to �� the sidewalk, curb, gutter, and street improvements, a positive adjustment can be made in the "loeation" section of the grid and/or to the "utilities and street" section � of the }and �rid. � 2 f hc im ro�•ements have a lessor ercenta e ad'ustmcnt but also have a ositi�:e p P g J P location�{ ac�justment attributable to�the project. '� � - - - ----- ----- McKINZIE METRO APPRAISAIS— � -27- � , , The cumulative cliange is relative{y minor and can best be termed as an improvement to the aesthetics of the immediate neighborhood. �" lf the change to the property were mQre profound such as providing public utilities to the property, which it did not previously have, a before appraisal eould be completed using 'i sa}es, that ►ike the subject, lacked the utilities, and an after appraisal could use sales for a ; comparison analysis that had the utilities. This does not appear to be the magnitude of the appraisal situatian her�. I have therefore made the adjustments as outlined above. The ,� conciusion in the "after" situatian is as follows: �� ' ,� ' � , �� ' ' � � � � � � � � : � � — - ------------- McKiNZiE METRO APPRAISALS � . -28- � , LAND VA �UE ANALYS t S ( AFTER ) Fcc Ow�cr J�T1P.S A. t�tt �I1ClE' ��5011 Propc�ty Address 3�_�4�J�1 St_—W_- -------- , Comporabtc Propertics ..k Comp.n.on No_ ?�fo. - No. - No.---Tf7r---. t[-4 '' D�cc or s.�� 1/3/92 1 22 92 10 23 9 Add'res: T�Z CAV1 aVE� ��rJ Rossnamt '� Lot5 Blk2 L Ld� 7 Bk L`a•� °""'p"°° Carrollton 3rrf Carrollton [t No Address � AC�fI. AC)Cb1 '� r«,�� or s.i� Cash ivalerrt Cash ival Grantor �SAT1�lR7t ROS�I.A'Tt Gcanccc 1 _y1tlC_ �T15Tiklil . IC1C. . Sale Pricc � � , Subicct Front■ c .]�� 't � �' Dcpch 1 � vg. �� ' � n«=.sq. � F�.� 10,80Q S.F. 10 370 _ Ft. 7_oninF —1,Si . Fam. R=1 Si le FarnRes. ..R-1 Si - � U,,;� �.t� P«« p�� .112 Per Sq. Ft_ $1_T!1 Per. Sq_ Ft_ $1.605 Per Sq. Ft �4_ r�. r. c_, «<_ Ad�ustecl Per Site �u Adjus-cmcnc hdjnscmcnt Adjuscmcnt Adjustmcnt � [ccros Plus ?�Sinus Plus Minus Plus M�nus Timc 8� � Sizc � �bapc . Topogrnphy Lo�,�,o„ 657 627 Utilicics Scrccc Im . 1� 1 � Spccial AsscssmcnCs . Fill; Grading-Sub$oil � Zoning � '� Total Adjus[mcn[ . Ncc Adjuscment +$ 1�� .F.� I 6� -I-� 1 � Unic Salc Pricc �yy� o( Comparabtc �i�� 19 7tN � Unit S�tc Fcicc ot Comp. Adjusccd to Sub. �� ,72 $21 699 ESTIhSA'I'ED VALUE OF LAND 1:� SUBJECT PROPERTY � ON BASIS OF COhtPARABLE MARKET DATA: 10+� squore lect_ - et PET' Cil'f'P = S � � � --- co��r,�E_r,��s: The adjustm�t to the Ca�rQarable Sales have been made on a per site basis (tc�tal sale pricej rather than per square foot. mis most accurately reflects the w�ay in whieh residential lats � are bax��t and sold_ €3ecause all three sales are very similar, t have relied on aii of thgn in reaching tt�e final estimate of value_ '� John Z_ �h1 January 20, 1992 i�.��,� i,; ��.. , �;,,. .� ,,, � . -29- ME:KINIIF Mi_ iR0 11PPFiAIS�I. S 1 , FINRL CONCLC,`S10N , The eost and Ineome hppraaches to �'at•�e hav� nat been em�loyed in this a��raisai for the reasons outlined in the "before" situation. � The 1�Tarket A roach with the adjustments to reflect the "after" situation is as follows: PP ' Assessed �a1ue af Improvements$65,100* x 1.14 = �71,610 x 1.03 to reflect the projects impact on the improvements at this tocatian = $ 73,758 , and Value from the "Land Value Anal sis" G-rid °After" _ $ 22,700 L Y �� Total Land and Improvements After= $ 96,458 � Round To Say: $96,SQQ "After° � � *Please refer to the"Appraiser's Comments" in the Addendum of this report. � � � � � � � � � � -- McKiNZIE METRO APPRAISALS ' -30- � , APPRAISER'S C(JI�1ME1`v�TS ' - - � I discussed the method of approach to the valuation af the impro�ements with Mr. Osmundson, the City Engineer. It was decided so as not to inconvenience the residents '; with the full inspection process, that we would use the assessed vafuation for the � improvements. Because that assessed valuation tends to be on the conservative side of market value, we ha�e increased that arnount by 10%. I� B followin this rocess it aIlows us to work with the total ro ert includin both the Y � P P P Y g land and the improvernents. ,� �� J _� � .� � � � � � ' n. � �. i � � 1 l I _ _ ---- - __- ---------- McKiNZIE METRO APPRAISALS— ' -31 - �� , ' COMPARABLE LAI�'17 SALE NO R 2 INFORMATION S4ITRCE: Certi�cate of Reat Estate Value , L4CATION: 19802 Covingtan Avenue, Rosemount, MN '� LEGAL DESCRIPTION: Lot 5, Block 2, Carrollton 3rd Additian � DATE QF SA.LE: January 3, 1992 , BUYER: The Windwood Co., Inc. '� SELLER: Rosemount Pro erties of Minnea alis P P I UTILITIES: Atl typical of city , TOPOGRAPHY/SOILS: Flat and levelland with good soils �� , _ SIZE: $5 x 122 — 10,370 Sq. Ft. '� SHAPE: Rectangular SALE PRICE: $21,900 � TERMS: Cash equivalent � STREET OR ROAD: Bituminous � AMEIVITIES: New residential developmern REIVIARI�S: There is now a new house on the property. � ZOrTING: R-1 Sin e Famil Residential � � Y .;�.�. � �- .�� ,�- �� _ �;' � �� , 5 ��, � � � - - J . - ::-.,� ' � � _:,-..� _, _ _ :_� . ,� - � h.� , _ _�,r �,.; 1 � �� — � - � , , _ 1 � _ _ _ �.. �.�..._.�.;�.: Y__ ._ �_ , _�.... ... . _. ._ . ,�_ IJ . s �. - , . _w �:� -�3 2- � -� ' ' C�MPARABLE LAND SALE NQ. R-3 INFQRMAT�ON SOURCE: Certificate of Real Estate Value ' LOCATI�N: 3915 147th Street, Rosemount, MN ' LEGAL DESCRIPTION: Lot 11, Bloek l, Carrollton 2nd Additian DATE OF SALE: January 22, 1992 '' BUYER: Wensmann Properties, Ine. ''' SELLER: Rasernount Pro erties of Minnea olis P P � UTILITIES: All typicai of city , � TOPQGRAPHY/SOILS: Flat and level land with good soils � SIZE: 84'x 140' = 11 760 S . Ft. , q ,� SHAPE: Rectangular � SALE PRICE: $24,900 � TERMS: Cash equivalent 'I STREET OR ROAD: Bituminous I AMETTITIES: New residential development ,� REMARI�S: There is now a new house on the property. �� ZOI�TING: R-1, Sin e Famil P� Y �,�.°y� �_ . a.5f- hy',r:� . •'II� .'�� . . ;'1 ' � _ . -:i:.. .�4 .5:.; f� �Y +.v.�_i � � . � �{ . � � � .�.�` . �� y. Y..� �, -, � �6;`�.' � ^fi'�4P :_ . � g;��Y. � ;�''�:F . M _ _ .__. y _ . _ : . �: ,��. _�.. ; .ti_ � �� - ; - �-. .�V;�;,� . =� �., ,�� -- � .�,� ,4`�ar.,.� _�"�'�.,�"," � _ . _�3 3-_ : � ' COMPARABLE LAND SALE NO R-4 INFORMATION SOURCE: Certificate of'Real Estate Value ' LOCATI4N: 3938 149th Street West, Rosemount, MN � LEGAL DESCRIPTION: Lot ?, Block 3, Carroiltan 3rd Addition ' DATE QF SALE: October 23, 1941 BUYER: Basic Builders, Inc. '' SELLER: Rosemount Pro erties af Minnea olis P P '� UTILITIES: All typical of city TOPOGRAPHY/SOILS: Flat and level land with good soils � � � _ SIZE: 80 x 155 — 12,40Q Sq. Ft. � SHA.PE: Rectangutar SALE PRICE: $19,90Q � TERMS: Cash � STREET OR ROAD: Bituminous �� AMENITIES: New residential development _ REMARKS: There is now a new house on the property. � ZONING: R-1, Sin le Famil g Y I�i ¢� �.�. � w. � � __ :� �. . � .. _ , r ��i��> �� i_: . . . . `r:._. , . � . � . V�4 `�*'� � 1.�:. "e}��k ,-..-.-��' �� "- ��k �� i3 Y.,� � � ,�... .. .. .'c: �a, �'n." . r � ,�� ,�"� s "y �. �1�;J�+ �" �.�1 • '"� ��ia�I y�ti�;, re� 1 �i „ ��"- � � � � t � � -34- �_ � �. �. �. �r �J � � �u �. �.; � � � � � � � N A; � M1 ,�nr t �' ♦ Yi:::t O' us � � ��, �c ,, .:aa „ ' `>::;'s.;:;�:<�:�.s::z:;»:;r::::::,<:r:;;:;::s;i )OOO _ _ 4+ — — — c� +�vE. (" ' # oREx .O dye '*�,p�+,� S . o � 0 PfLOT ICNf)� ��'J: l::l .. :.:; �r � � �, A j�;:�i;L;.};7}}' �DURNINC AV f� �ej' � � > . �� > _ �r 3 � � � -0 W ca �� s� ► .. yA�kS�, �� _ '� � • . � $ A veu £i ti`��19rR p r^a Z 2 � .. 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I N ^ � URNIEY � YL .� .,� lUM11ATTY AY[ 5 t . .... . . . .+ � . .+ .. . . y�'v � � g tu�ooiuN,� �VE � � N W (((��'''��''�� ti ti Rp I � n lROWNfHANE:� AVF . � r�.. �i S W -1 ',�,' � .� ( n � � I G N S .'W� ' ..1. n t 2 l,�J .Y . � _ ,.,MIAMlOI1U .Yf� � � y C � fOL1Y1 Yf. �.'F �, I � ' � ^ .. � . . .. . � —� _�—•