HomeMy WebLinkAbout2.a. Parks Dedication Requirements and Dedication Fees
EXECUTIVE SUMMARY
City Council Work Session: April 10, 2017
AGENDA ITEM: Parks Dedication Requirements and
Dedication Fees
AGENDA SECTION:
Discussion
PREPARED BY: Dan Schultz, Parks and Recreation
Director
AGENDA NO.
2.a.
ATTACHMENTS: Survey of Parks Dedication
Requirements, Land Value Market Study
and Metropolitan Council Housing
Information
APPROVED BY: LJM
RECOMMENDED ACTION: None, discussion only.
ISSUE
The Parks and Recreation Commission recently reviewed and subsequently recommended that the City
adjust our parks dedication collection methods and residential dedication fees. The review was done in part
because of a complaint we received from a developer who was bringing forward a high density
development project. The developer felt it was unfair to charge a one bedroom apartment the same parks
dedication as a four bedroom home.
The topic of collecting parks dedication was discussed by the Commission at several meetings in 2016 and
2017. It was also discussed by the City Council at the October 10, 2016 work session. Staff has reviewed
our parks dedication methods, plus the methods of many other local communities and is recommending
that we adjust our parks dedication collection methods to have different collection requirements for low,
medium and high density developments. The dedication requirements would then be tied to the type of
density and how many people are expected to live in each unit based on housing information provided by
the Metropolitan Council.
One item that was also discussed by the Parks and Recreation Commission and the City Council was the
fact that parks dedication land values were last studied in 2010. Both the Commission and City Council
recommended that we hire a consultant to prepare a Value Market Study to help us set our parks
dedication fees because they are based on land values.
The Land Value Market Study showed that there is a clear difference in land prices for varying types of
density levels. With that information, staff is recommending that we set a per acre parks dedication fee for
low, medium and high density developments.
Staff is recommending that the methods of collection and parks dedication fees listed below be discussed.
There is a recommendation on how to move forward from both staff and the Parks and Recreation
Commission.
Current Method and Fees
density units/acre dedication per unit land value per acre cash dedication/unit
All densities N/A .04 acres per unit $85,000 $3,400
Staff’s Proposed Method and Fees
density units/acre dedication per unit land value per acre cash dedication/unit
Low density 1 to 5 units/acre .04 acres per unit $85,000 $3,400
Med density 6 to 12 units/acre .03 acres per unit $95,000 $2,850
High density 12 to 30 units/acre .02 acres per unit $125,000 $2,500
Parks Commission Proposed Method and Fees
density units/acre dedication per unit land value per acre cash dedication/unit
Low density 1 to 5 units/acre .04 acres per unit $85,000 $3,400
Med density 6 to 12 units/acre .03 acres per unit $105,000 $3,150
High density 12 to 30 units/acre .02 acres per unit $145,000 $2,900
Listed below are scenarios that show what the dedication would be for a 60 unit development in all three
of the density categories as proposed by staff.
60 Unit Development Scenarios
density units per unit fee total cash dedication or Land in‐lieu of cash Est. new residents
Low density 60 $3,400 $204,000 or 2.4 acres 180
Med density 60 $2,850 $171,000 or 1.8 acres 130
High density 60 $2,500 $150,000 or 1.2 acres 94
BACKGROUND
Parks Dedication Collection -
Minnesota State statutes provide municipalities the opportunity to collect a portion of a subdivision for
public purposes. Listed below is the state statute language pertaining to the dedication of land in a
subdivision and also the language about the nexus of between the impact of the development and the
required dedication.
Subd. 2b.Dedication.
(a) The regulations may require that a reasonable portion of the buildable land, as defined by municipal
ordinance, of any proposed subdivision be dedicated to the public or preserved for public use as streets,
roads, sewers, electric, gas, and water facilities, storm water drainage and holding areas or ponds and similar
utilities and improvements, parks, recreational facilities as defined in section 471.191, playgrounds, trails,
wetlands, or open space. The requirement must be imposed by ordinance or under the procedures
established in section 462.353, subdivision 4a.
(b) If a municipality adopts the ordinance or proceeds under section 462.353, subdivision 4a, as required by
paragraph (a), the municipality must adopt a capital improvement budget and have a parks and open space
plan or have a parks, trails, and open space component in its comprehensive plan subject to the terms and
conditions in this paragraph and paragraphs (c) to (i).
(c) The municipality may choose to accept a cash fee as set by ordinance from the applicant for some or all
of the new lots created in the subdivision, based on the average fair market value of the unplatted land for
which park fees have not already been paid that is, no later than at the time of final approval or under the
city's adopted comprehensive plan, to be served by municipal sanitary sewer and water service or
community septic and private well as authorized by state law. For purposes of redevelopment on developed
land, the municipality may choose to accept a cash fee based on fair market value of the land no later than
the time of final approval. "Fair market value" means the value of the land as determined by the
municipality annually based on tax valuation or other relevant data. If the municipality's calculation of
valuation is objected to by the applicant, then the value shall be as negotiated between the municipality and
the applicant, or based on the market value as determined by the municipality based on an independent
appraisal of land in a same or similar land use category.
(d) In establishing the portion to be dedicated or preserved or the cash fee, the regulations shall give due
consideration to the open space, recreational, or common areas and facilities open to the public that the
applicant proposes to reserve for the subdivision.
(e) The municipality must reasonably determine that it will need to acquire that portion of land for the
purposes stated in this subdivision as a result of approval of the subdivision.
(f) Cash payments received must be placed by the municipality in a special fund to be used only for the
purposes for which the money was obtained.
(g) Cash payments received must be used only for the acquisition and development or improvement of
parks, recreational facilities, playgrounds, trails, wetlands, or open space based on the approved park
systems plan. Cash payments must not be used for ongoing operation or maintenance of parks, recreational
facilities, playgrounds, trails, wetlands, or open space.
(h) The municipality must not deny the approval of a subdivision based solely on an inadequate supply of
parks, open spaces, trails, or recreational facilities within the municipality.
(i) Previously subdivided property from which a park dedication has been received, being resubdivided with
the same number of lots, is exempt from park dedication requirements. If, as a result of resubdividing the
property, the number of lots is increased, then the park dedication or per-lot cash fee must apply only to the
net increase of lots.
Subd. 2c.Nexus.
(a) There must be an essential nexus between the fees or dedication imposed under subdivision 2b and the
municipal purpose sought to be achieved by the fee or dedication. The fee or dedication must bear a rough
proportionality to the need created by the proposed subdivision or development.
(b) If a municipality is given written notice of a dispute over a proposed fee in lieu of dedication before the
municipality's final decision on an application, a municipality must not condition the approval of any
proposed subdivision or development on an agreement to waive the right to challenge the validity of a fee
in lieu of dedication.
(c) An application may proceed as if the fee had been paid, pending a decision on the appeal of a dispute
over a proposed fee in lieu of dedication, if (1) the person aggrieved by the fee puts the municipality on
written notice of a dispute over a proposed fee in lieu of dedication, (2) prior to the municipality's final
decision on the application, the fee in lieu of dedication is deposited in escrow, and (3) the person aggrieved
by the fee appeals under section 462.361, within 60 days of the approval of the application. If such an
appeal is not filed by the deadline, or if the person aggrieved by the fee does not prevail on the appeal, then
the funds paid into escrow must be transferred to the municipality.
The City of Rosemount’s current parks dedication requirement for residential development presumes that
a reasonable amount of land has been dedicated for parks if a sub-divider dedicates one twenty-fifth 1/25
of an acre for each dwelling unit of the proposed subdivision (acres to be dedicated = 0.04 x number of
dwelling units). If the City chooses to accept cash instead of land dedication to satisfy the parks dedication
requirements, .04 is multiplied by a per acre value set by the City Council.
One issue with the current dedication requirement is that all residential units are dedicating the same
amount of land/cash even though the residential unit might vary greatly in size and potential impact to the
parks system. For example, a single family home with four bedrooms is dedicating the same amount of
land as a one bedroom apartment.
Staff have reviewed the parks dedication methods of several other cities and included some examples in a
survey that is included in the packet. The examples that staff has provided show that some cities use a
sliding scale of percentages for land to be dedicated based on density, some base the dedication on how
many people will reside in a specific dwelling type and some such as Rosemount and Savage, have a flat
method of collecting the dedication because it is the same no matter the type of housing unit or density of
the development. At the bottom of the survey, you will see a proposed adjustment to our current
collection method.
Land Value Market Study -
The City of Rosemount recently hired Evergreen Land Services to conduct a Land Value Market Study to
assist the City with setting our parks dedication fees. At the City’s request, Evergreen has gathered land
sales information within the City of Rosemount and surrounding communities and prepared a market
study analysis. The market study is based on sales that are considered market qualified. Transactions that
appeared to be between related parties, older contract for deeds that were finalized, or sales influenced by
atypical market motivations were excluded from this study.
SUMMARY
Staff is recommending that the City Council review and discuss the parks dedication collection methods
and parks dedication fees. Staff is recommending that the City Council consider directing staff to change
how the City collects parks dedication and that our parks dedication fees are adjusted.
Parks Dedication Requirements
City
Rosemount (current):
1/25 of an acre per unit (.04 acres of land per unit)
Lakeville:
Low density Less than 3.0 12 %
Med density 3.0 to 9.0 14 %
High density More than 9.0 17 %
Farmington:
0 ‐ 2.5 units per acre 11 %
2.6 ‐ 5.0 units per acre 12 %
5.1 ‐ 7.5 units per acre 13 %
7.6 ‐ 10.0 units per acre 14 %
10.1 ‐ 12.5 units per acre 15 %
12.6 ‐ 16.0 units per acre 16 %
For each 2.5 units over 16/acre add .25%
Eagan
0 – 1.9 units per acre 8 %
1.9 – 3.5 units per acre 10 %
3.5 – 5.9 units per acre 12 %
6.0 ‐ 10.0 units per acre 14 %
10+ units per acre add .5% for each unit over 10
Eagan also has a separate trail dedication requirement
Inver Grove Heights
Percentage based on type of development
R‐1 & R‐2 10%
R‐3A, R‐3B & R‐3D 20%
R‐3C 30%
Savage
10% of the net developable land
Apple Valley
0.00955 acre per resident
Detached SF 3.2 persons per dwelling unit
Attached SF 2.1 persons per dwelling unit
Multiple family 1.7 persons per dwelling unit
Burnsville
The dedication formula for residential land shall be based on the
national standard of providing ten (10) acres of parks and open
spaces per one thousand (1,000) population and residential
subdivisions shall be computed on the proposed number of
dwelling units in a project and the average population for
dwelling unit type as established by the metropolitan council.
Shakopee
1 acre of land for every 75 people
Single family 3.0 people
Duplex/twin 3.0 people
Apt or townhouse 1.0 person per bedroom
Chanhassen
1 acre of land for every 75 people
Single family 3.5 people
Two‐family dwelling 3.0 people
Apt or townhouse 1.0 person per bedroom
Rosemount (proposed)
Low density 1 to 5 units per acre .04 acres per unit
Med density 6 to 12 units per acre .03 acres per unit
High density 12 to 30 units per acre .02 acres per unit
2015 Annual Population Estimates
Rosemount city, Dakota County, Minnesota
Households:8,095
Occupancy Rate:97.66%
Population in Households:22,962
Population in Group Quarters: 80
Total Population:23,042
Average Household Size:2.837
Single‐family‐detached:5,248
Townhomes:1,428
Duplex, 3‐, 4‐plex units:76
Multifamily units:920
Manufactured homes: 181
Other (boats, RVs, etc. as shelter):0
Housing Total: 7,853
Housing Stock
April 1, 2010
331
37
8
86
‐16
0
0
0
Permitted and
built since 2010
Other changes
since 2010
Housing Stock
April 1, 2015
Occupancy
Rate 2015
Persons Per
Household
Population in
2015
Occupied with
Households
99.17%
94.42%
99.50%
93.46%
Single‐family‐detached:
Townhomes:
Duplex, 3‐, 4‐plex units:
Multifamily units:
Manufactured homes:
Other:
5,517
1,383
84
940
171
Households:8,095
3.006
3.006
2.182
1.577
3.245
2.368
16,585
4,157
183
1,482
555
0
In Households:22,962
In Group Qtrs:80
Total Population:23,042
Counted only if
occupied
The Metropolitan Council's Annual Estimates account for housing stock changes since April 1, 2010. These include housing units permitted and other
changes. Other changes are due to demolitions, building conversions (units added or lost), city boundary changes (units annexed in or out), and other
changes reported by city and township staff. We assume that 95% of single‐family detached units, 90% of townhome/duplex/triplex/quadplex units,
and 85% of multifamily units permitted in 2014 were completed and occupiable by April 1, 2015; the remainder are occupiable in the future and will
count toward next year's estimates (for April 1, 2016).
Manufactured homes are counted each year from Metropolitan Council surveys of manufactured home park operators and local governments. Other
housing (boats, RVs, etc. used as housing) comes from the most recent American Community Survey estimates.
Each housing type has a specifically estimated occupancy rate and average household size. These data come from the most recent Community
Survey estimates, decennial census data from the U.S. Census Bureau, and the U.S. Postal Service (for occupancy rates only). For more detail, please
see the full methodology, available online from http://www.metrocouncil.org/populationestimates .
Definitions: A household is a group of people (or one person alone) occupying a housing unit.
The number of occupied housing units and the number of households are equivalent.
Population in Group Quarters (or institutional housing) is counted separately through an annual Metropolitan Council survey.
Housing Stock
April 1, 2015
Housing Total: 8,289
8,289
5,563
1,465
84
1,006
171
0
Housing Total:8,289
100.00%
5,563
1,465
84
1,006
171
00
5/6/2016Metropolitan Council
MARKET STUDY
SUMMARY OF LAND SALES
FOR CITY OF ROSEMOUNT
DATE OF MARKET STUDY:
November, 2016
PREPARED FOR:
CITY OF ROSEMOUNT
DEPARTMENT OF PARKS and RECREATION
13885 SOUTH ROBERT TRAIL
ROSEMOUNT, MN 55068
PREPARED BY:
EVERGREEN LAND SERVICES
4131 OLD SIBLEY MEMORIAL HIGHWAY, SUITE 201
EAGAN, MN 55122
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evergreen Land Services
Evergreen Land Services Company
4131 Old Sibley Memorial Highway, Suite 201
Eagan, MN 55122
Tel: (651) 882-0200
December 15, 2016
City of Rosemount
Attn: Mr. Dan Schultz
13885 South Robert Trail
Rosemount, MN 55068
RE: City of Rosemount Market Study
Dear Mr. Schultz
It is our understanding that Parks and Recreation Department is looking for land sales within the
City of Rosemount and surrounding communities for setting the parks dedication fees. The
purpose of this report is to provide market sales to use for consideration as data for parcels
experiencing acquisitions for the future dedication fees.
At your request we have gathered land sales within the City of Rosemount and surrounding
communities and prepared a market study analysis. The market study is based on sales that are
considered market qualified. Several of the sales have not been verified by Evergreen Land
Services at this time. Transactions that appeared to be between related parties, or older contract
for deeds that were finalized, or sales influenced by atypical market motivations, were excluded
from this study.
A good portion of the study area is currently high density residential, commercial and agricultural
land. The majority of the sales used already had city sewer and water in place. This was taken
into consideration when determining values. Typically land will sell for much less without utilities in
place, but will sell higher than areas where no future extension of city sewer and water is planned.
With this being said, until a detailed appraisal is conducted on each individual property affected,
the values could vary from the data provided.
Our conclusions from our market study are as follows:
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evergreen Land Services
Land Values for Future Commercial Use in Study Area
½ to 5 acre parcels $6.00 to $10.00 per square foot
5 to 20 acre parcels $4.50 to $7.00 per square foot
Land Values for Future Industrial Use in Study Area
1 to 10 acre parcels $3.00 to $4.00 per square foot
10 to 25 acre parcels $1.50 to $3.00 per square foot
Land Values for Low, Medium and High Density Residential Development Land Use
in Study Area
5 to 20 acre parcels Low to Medium $50,000 to $85,000 per acre
1 to 20 acre parcels Medium to High $85,000 to $125,000 per acre
1 to 20 acre parcels High $125,00 to $250,000 per acre
No party, other than the client, may use or rely upon this report without the prior written
authorization.
If you have any questions regarding the information contained in this report, please call or email
me.
Sincerely,
Matthew S. Storm SR/WA
651-882-0200
Matthews@elsco.net
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evergreen Land Services
TABLE OF CONTENTS
ITEM PAGE NO.
LETTER OF TRANSMITTAL ........................................................................... 1-2
TABLE OF CONTENTS ...................................................................................... 3
COMMERCIAL LAND SALES & LISTINGS MAP ............................................... 4
COMMERCIAL LAND SALES & LISTINGS SUMMARY .................................... 5
INDUSTRIAL LAND SALES & LISTINGS MAP .................................................. 6
INDUSTRIAL LAND SALES & LISTINGS SUMMARY ....................................... 7
RESIDENTIAL DEVELOPMENT LAND SALES & LISTINGS MAP .................... 8
RESIDENTIAL DEVELOPMENT LAND SALES & LISTINGS SUMMARY ......... 9
ADDENDA ........................................................................................................ 10
COMMERCIAL SALES ................................................................................ 11-25
INDUSTRIAL SALES ................................................................................... 26-36
RESIDENTIAL DEVELOPMENT LAND SALES .......................................... 37-57
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evergreen Land Services
Listing 7
Comp 2
Comp 1
COMMERCIAL LAND SALES & LISTINGS MAP
Listing 5
Comp 4
Listing 6
Comp 3
Subject Area
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evergreen Land Services
COMMERCIAL LAND SALES & LISTINGS SUMMARY
Average Price Per SF for Commercial Sales/Listings = $6.90/sf
Sale Property Sales Size Acres/ Sales Price Per
# Address Date & Square Feet Price SF
Sales
1
14755 Robert Trail South,
Rosemount, MN 03/2016 1.57 ac or 63,389 sf $ 325,000 $ 4.75
2
16150 Pilot Knob Road,
Lakeville, MN 09/2014 23.17 ac or 1,009,285 sf $6,168,357 $ 6.11
3
15265 Carrousel Way,
Rosemount, MN 10/2015 0.87 ac or 37,897 sf $ 280,000 $ 7.39
4
21060 Keswick Loop,
Lakeville, MN 8/2015 3.50 ac or 152,460 sf $1,150,000 $ 7.54
Listings
5 XXXX 151st Street, Rosemount
Current
Listing 2.434 ac or 106,025 sf $ 600,000 $ 5.66
6
XXXX County Road 42
Rosemount, MN
Current
Listing 0.94 ac or 40,946 sf $ 407,940 $ 9.36
7
XXXX Dodd Blvd,
Lakeville, MN
Current
Listing 15.5 ac or 675,180 sf $5,063,850
$ 7.50
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evergreen Land Services
Comp 1
INDUSTRIAL LAND SALES & LISTINGS MAP
Subject Area
Listing 4
Listing 5
Comp 2
Comp 3
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evergreen Land Services
INDUSTRIAL LAND SALES & LISTINGS SUMMARY
Average Price Per SF for Industrial Sales/Listings = $2.80/sf
Sale Property Sales Size Acres/ Sales Price Per
# Address Date & Square Feet Price SF
Sales
1
8190 215th Street W., Lakeville,
MN 11/2014 5.07 ac or 220,849 sf $ 662,547 $ 3.00
2
XXX Briggs Drive,
Inver Grove Heights, MN 02/2014 1.82 ac or 79,279 sf $ 200,000 $ 2.52
3
6055 150th St W
Apple Valley, MN 10/2015 21.58 ac or 940,024 sf $2,172,000 $ 2.31
Listings
4
XXX Hwy 3,
Rosemount, MN
Current
Listing 21.33 ac or 929,135 sf
$3,720,000 $ 4.00
5
XXX Robert Trail S.,
Rosemount, MN
Current
Listing 19.30 ac or 840,702 sf $1,800,000 $ 2.14
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evergreen Land Services
RESIDENTIAL DEV. LAND SALES & LISTINGS MAP
Comp 1
Comp 2
Subject Area
Comp 3
Comp 4
Comp 5
Comp 6
Comp 7
Listing 8
Listing 9
Listing 10
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evergreen Land Services
LOW, MEDIUM and HIGH DENSITY RESIDENTIAL DEVELOPMENT
LAND SALES & LISTING SUMMARY
*Low Density
**Medium Density
***High Density
Average Price Per Acre and SF for Sales/Listings = 110,834/acre or $2.47/sf
Sale Property Sales Size Acres/ Sales Price Per
# Address Date & Square Feet Price Acre/SF
Sales
1*
XXX 65th St E
Inver Grove Heights, MN 04/2016 5.37 ac or 233,917 sf $ 775,000
$ 144,320
or $3.31
2*
20XXX Kaiser Way
Lakeville, MN 05/2014 16.45 ac or 712,206 sf $ 785,000
$ 47,720
or $1.09
3*
19770 Kenwood Trail,
Lakeville, MN 03/2014 14.55 ac or 633,798 sf $ 844,520
$ 58,043
or $1.33
4*
4865 Pilot Knob Road,
Eagan, MN 12/2014 3.90 ac or 169,884 sf $ 334,900
$ 85,871
or $1.97
5*
XXXX 70th Street W.,
Inver Grove Heights, MN 10/2015 14.77 ac or 643,381 sf $ 1,065,000
$ 72,106
or $1.66
6**
3400 Upper 149th Street,
Rosemount, MN 08/2016
1.487 ac or 64,773 sf $200,000
$134,498
or $3.08
7**
XXXX Connemara Trail,
Rosemount, MN 07/2015 8.81 ac or 383,763 sf $558,000
$ 63,337
or $1.45
Listings
8*
XXXX Brooklyn Ln,
Eagan, MN
Current
Listing 3.97 ac or 172,933 sf $ 314,987
$ 79,341
$1.82
9**
17600 Pilot Knob Road,
Lakeville, MN
Current
Listing 10.00 ac or 435,600 sf $ 680,000
$ 68,000
$1.56
10***
XXXX Dodd Blvd,
Lakeville, MN
Current
Listing 14.26 ac or 621,165 sf $5,063,850
$355,108
or $7.50
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evergreen Land Services
ADDENDA
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evergreen Land Services
COMMERCIAL LAND SALES
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evergreen Land Services
COMPARABLE COMMERCIAL LAND SALE NO. 1 PROPROPERTYPERTY INFORMATION Property Address: 14755 S. Robert
Trail
City/Township
& County:
Rosemount
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Commercial
development
Zoning: C-1 Convenience Commercial
PIN/ Geo Code: 34-64593-01-010
Legal Description: Lots 1 and 2, Block 1, Evenson First Addition, Dakota County,
Minnesota. Lengthy description in file.
Size Acres or
Square Feet:
1.57 acres or 68,389 sf
SALES INFORMATION Grantor(s): Rosemount Port Authority
Grantee(s): JsQuad, LLC
Date of Sale: March, 2016
Confirmed With: eCRV, Dakota County and County Assessor
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed armslength
Sale Price: $ 325,000.00
Per Acre & SF: $ 207,006 or $4.75
DESCRIPTION - Located in the northwest quadrant of County 42 and Highway 3 in the City of
Rosemount
- Rectangular in shape
- High visibility site on U.S. Highway 3, located in a commercial area.
- Frontage on Hwy 3
- Developed into a Culver’s restaurant.
(See aerial view on following page)
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evergreen Land Services
COMMERCIAL LAND SALE NO. 1
AERIAL FROM DAKOTA COUNTY GIS
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evergreen Land Services
COMPARABLE COMMERCIAL LAND SALE NO. 2 PROPROPERTYPERTY INFORMATION Property Address: 16150 Pilot Knob
Road
City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Vacant Commercial
Lot
Highest & Best
Use:
Commercial
development
Zoning: PUD, Planned Unit Development and guided to Commercial
PIN/ Geo Code: 22-71320-01-010, 22-71320-01-020 and 22-71320-00-010
Legal Description: Lots 1 and 2, Outlot A, Dakota County
Size Acres or
Square Feet:
23.17 acres or 1,009,285 sf
SALES INFORMATION Grantor(s): SBF Development Corp.
Grantee(s): Hy-Vee Inc.
Date of Sale: September, 2014
Confirmed With: eCRV and Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed armslength
Sale Price: $ 6,168,357
Per Acre & SF: $ 266,221 or $6.11
DESCRIPTION - The site is located on the southeast corner of County Road 46 (or 160th Street) and
County Road 31 (Pilot Knob Rd). Good traffic counts in this area.
- Mostly rectangular in shape
- Site was developed for Hy-Vee grocery store, gas station and future retail space.
(See aerial view on following page)
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evergreen Land Services
COMMERCIAL LAND SALE NO. 2
AERIAL FROM DAKOTA COUNTY GIS
COMMERCIAL LAND SALE NO. 2
AERIAL FROM DAKOTA COUNTY GIS
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evergreen Land Services
COMPARABLE COMMERCIAL LAND SALE NO. 3 PROPROPERTYPERTY INFORMATION Property Address: 15265 Carrousel
Way
City/Township
& County:
Rosemount
Dakota
Present Use at
Time of Sale:
Vacant Commercial
Property
Highest & Best
Use:
Commercial
development
Zoning: C4, General Commercial
PIN/ Geo Code: 34-71176-01-030
Legal Description: Lot 3, Block 1, South Rose Park Third Addition, Dakota
County, Minnesota
Size Acres or
Square Feet:
.87 acres or 37,897 sf
SALES INFORMATION Grantor(s): Rosemount Properties, LLC
Grantee(s): TJEI Investments, LLC
Date of Sale: October, 2015
Confirmed With: eCRV and Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed Arms length
Sale Price: $ 280,000
Per Acre & SF: $ 321,836 or $7.39
DESCRIPTION - Irregular in shape
- Access on Carrousel Way
- Mainly level
- Visibility from Chippendale Ave. West
(See aerial view on following page)
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evergreen Land Services
COMMERCIAL LAND SALE NO. 3
AERIAL FROM DAKOTA COUNTY GIS
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evergreen Land Services
COMPARABLE COMMERCIAL LAND SALE NO. 4 PROPROPERTYPERTY INFORMATION Property Address: 21060 Keswick
Loop
City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Vacant Commercial
Land
Highest & Best
Use:
Commercial
development
Zoning: C-3, General Commercial
PIN/ Geo Code: 22-03500-03-011
Legal Description: Lengthy description in file
Size Acres or
Square Feet:
3.50 acres or 152,460 sf
SALES INFORMATION Grantor(s): The Mary Louise Scherer Living Trust
Grantee(s): Lakeville Hospitality , LLC
Date of Sale: August, 2015
Confirmed With: eCRV and Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed Armslength
Sale Price: $ 1,150,000
Per Acre & SF: $ 328,571 or $7.54
DESCRIPTION - Rectangular in shape
- Located on the SE corner Hwy 70 (210th Street) and Keswick Loop, close to Hwy 35
- Site developed for a hotel
(See aerial view on following page)
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COMMERCIAL LAND SALE NO. 4
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE COMMERCIAL LAND LISTING NO. 5 PROPROPERTYPERTY INFORMATION Property Address: XXXX 151st Street City/Township
& County:
Rosemount
Dakota
Present Use at
Time of Sale:
Vacant Commercial
land
Highest & Best
Use:
Commercial
development
Zoning: C-4, General Commercial
PIN/ Geo Code: Part of PID 34-47501-01-020
Legal Description: Part of Lot 2, Block 1, McNamara 2nd Addition, Dakota County,
Minnesota
Size Acres or
Square Feet:
2.434 acres or 106,025
SALES INFORMATION Grantor(s): Merchants Bank National Association
Grantee(s):
Date of Sale:
Confirmed With: Multiple Listings Services, Listing Agent and Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
List Price: $ 600,000
Per Acre & SF: $ 246,507 or $5.66
DESCRIPTION - List property is excess land from the bank that is located at 15055 Chippendale Av.
- According to the listing agent, approximately 1.4 acres is developable. Remainder is
lowland area.
- Access would likely be from 151st Street.
- Outline on aerial photo below is an estimation.
(See aerial view on following page)
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COMMERCIAL LAND LISTING NO. 5
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE COMMERCIAL LAND LISTING NO. 6 PROPROPERTYPERTY INFORMATION Property Address: XXXX County Rd 42 City/Township
& County:
Rosemount
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Commercial
development
Zoning: C3 and C4, General Commercial
PIN/ Geo Code: No PID at this time.
Legal Description: Rosewood Center Lot 2, Block 1
Size Acres or
Square Feet:
0.94 acres or 40,946 sf
SALES INFORMATION Grantor(s):
Grantee(s):
Date of Sale:
Confirmed With: MN
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Sale Price: $ 407,940
Per Acre & SF: $ 433,978 or $9.96
DESCRIPTION - Lot is on County road 42
- Mainly flat
(See aerial view on following page)
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COMMERCIAL LAND LISTING NO. 6
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE COMMERCIAL LAND LISTING NO. 7 PROPROPERTYPERTY INFORMATION Property Address: XXXX Dodd Blvd City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Commercial
development
Zoning: C3, General Commercial
PIN/ Geo Code: 22-17052-00-030
Legal Description: Cherry Highlands 3rd , Outlot C
Size Acres or
Square Feet:
15.5 acres or 675,180 sf
SALES INFORMATION Grantor(s):
Grantee(s):
Date of Sale:
Confirmed With:
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Sale Price: $ 5,063,850
Per Acre & SF: $ 326,700 or $7.50
DESCRIPTION - On the corner of Dodd Blvd and Cedar Ave.
- Irregular in shape.
- Mostly level.
(See aerial view on following page)
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COMMERCIAL LAND LISTING NO. 7
AERIAL FROM DAKOTA COUNTY GIS
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INDUSTRIAL LAND SALES
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COMPARABLE INDUSTRIAL LAND SALE NO. 1 PROPROPERTYPERTY INFORMATION Property Address: 8190 215th Street
W.
City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Vacant Land Highest & Best
Use:
Industrial
development
Zoning: I-1, Light Industrial
PIN/ Geo Code: 22-10375-01-012
Legal Description: Lot 1, Block 1, Acorn Tappe Addition, Dakota County,
Minnesota. Remaining long legal retained in file
Size Acres or
Square Feet:
5.07 acres or 220,849 sf
SALES INFORMATION Grantor(s): American Bank of St. Paul
Grantee(s): County Road 70, LLC
Date of Sale: November, 2014
Confirmed With: MN Dept. of Revenue, Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed Arms length
Sale Price: $ 662,547
Per Acre & SF: $ 130,680 or $3.00
DESCRIPTION - Rectangular in Shape
- Industrial area
- Access from County Road 70
(See aerial view on following page)
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INDUSTRIAL LAND SALE NO. 1
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE INDUSTRIAL LAND SALE NO. 2 PROPROPERTYPERTY INFORMATION Property Address: XXX Briggs Drive City/Township
& County:
Inver Grove Hts.
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Industrial
development
Zoning: Industrial
PIN/ Geo Code: 20-76952-01-010
Legal Description: Lot 1, Block 1, Total Construction Third Addition, Dakota
County, MN, together with a non-exclusive driveway
easement created in Doc. No. 1315561
Size Acres or
Square Feet:
1.82 acres or 79,279 sf
SALES INFORMATION Grantor(s): Wilfred K. Krech
Grantee(s): Zelen’s Holding, LLC
Date of Sale: January, 2014
Confirmed With: MN Dept. of Revenue and Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed Arms length
Sale Price: $ 200,000
Per Acre & SF: $ 109,890 or $2.52
DESCRIPTION -Irregular in shape
-Industrial area
-Near Highway 52
(See aerial view on following page)
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INDUSTRIAL LAND SALE NO. 2
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE INDUSTRIAL LAND SALE NO. 3 PROPROPERTYPERTY INFORMATION Property Address: 6055 150th St. W. City/Township
& County:
Apple Valley
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Industrial
development
Zoning: Industrial
PIN/ Geo Code: 01-40970-00-010
Legal Description: East Half of the SW Quarter, Sec 26, T 115, R 20
Remaining lengthy legal in file.
Size Acres or
Square Feet:
21.58 ac or 940,025 sf
SALES INFORMATION Grantor(s): HBP Property Holdings, LLC
Grantee(s): Karamella, LLC
Date of Sale: October, 2015
Confirmed With: CRV, Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed Arms length
Sale Price: $ 2,172,000
Per Acre & SF: $ 100,649 or $2.31
DESCRIPTION - Rectangular in shape
- Mostly level
- Access from 147th St. W
(See aerial view on following page)
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INDUSTRIAL LAND SALE NO. 3
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE INDUSTRIAL LAND LISTING NO. 4 PROPROPERTYPERTY INFORMATION Property Address: XXX Hwy 3 City/Township
& County:
Rosemount
Dakota County
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Commercial/Industrial
Development land
Zoning: Industrial, guided to Commercial
PIN/ Geo Code: 34-03210-70-025
Legal Description: Sec. 32, Twn. 115, R. 19, Dakota County, Minnesota. Lengthy
legal in file.
Size Acres or
Square Feet:
21.33 acres or 929,135 sf
SALES INFORMATION Grantor(s): Dovestone, LLC
Grantee(s):
Date of Sale: Current Listing
Confirmed With: Colliers International is listing the property
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Current Listing
List Price: $ 3,720,000
Per Acre & SF: $ 174,402 or $4.00
DESCRIPTION - Near rectangular in shape
- Access off of Hwy 46
(See aerial view on following page)
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INDUSTRIAL LAND LISTING NO. 4
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE INDUSTRIAL LAND LISTING NO. 5 PROPROPERTYPERTY INFORMATION Property Address: XXX Robert Trail S. City/Township
& County:
Rosemount
Dakota County
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Industrial
development
Zoning: Industrial
PIN/ Geo Code: 34-03210-70-019 & 34-03210-70-024
Legal Description: Sec. 32, Twn. 115, R. 19, Dakota County, Minnesota
Size Acres or
Square Feet:
19.30 acres or 840,702 sf
SALES INFORMATION Grantor(s): Car Nav Five
Grantee(s):
Date of Sale: Current Listing
Confirmed With: CRBE
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Current Listing
List Price: $ 1,800,000
Per Acre & SF: $ 93,264 or $2.14
DESCRIPTION - Lot is mostly open and level, but does have some difficult terrain in the very
northeast portion of the property.
- List property consists of two tax parcels.
- Property is marketed by CRBE and described as industrial land.
(See aerial view on following page)
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INDUSTRIAL LAND LISTING NO. 5
AERIAL FROM DAKOTA COUNTY GIS
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RESIDENTIAL DEVELOPMENT
LAND SALES
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COMPARABLE LOW - DENSITY LAND SALE NO. 1 PROPROPERTYPERTY INFORMATION Property Address: XXX 65th Street E. City/Township
& County:
Inver Grove Hts.
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Low - Density
Residential Dev.
Zoning: R1 Low - Density
PIN/ Geo Code: 20-36500-09-150
Legal Description: Inver Grove Factory Add. Lots 1 thru 10 & 16 thru 30.
Size Acres or
Square Feet:
5.37 acres or 233,917 sf
SALES INFORMATION Grantor(s):
Grantee(s): Eternity Homes, LLC
Date of Sale: April, 2016
Confirmed With: MLS
Confirmed By: Evergreen Land Services
Conditions of
Sale:
armslength transaction
Sale Price: $ 775,000
Per Acre & SF: $ 144,320 or $3.31
DESCRIPTION - Irregular shape
- Mostly level
- Near Concord Blvd
(See aerial view on following page)
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LOW – DENSITY LAND SALE NO. 1
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEVELOPMENT LAND SALE NO. 2 PROPROPERTYPERTY INFORMATION Property Address: 20XXX Kaiser Way City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Residential
development
Zoning: R-1,Low Density
PIN/ Geo Code: 22-71501-00-010
Legal Description: St. Frances Woods 8th Add. Outlot A N/E ¼ SW ¼, Section
25-114-21
Size Acres or
Square Feet:
16.45 ac or 712,206 sf
SALES INFORMATION Grantor(s):
Grantee(s):
Date of Sale: May, 2014
Confirmed With: MLS
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed Armslength
Sale Price: $ 785,000
Per Acre & SF: $ 47,720 or $1.09
DESCRIPTION - Sale property is fairly level with some wetlands
- Close to Hwy 35
(See aerial view on following page)
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LOW – DENSITY LAND SALE NO. 2
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEVELOPMENT LAND SALE NO. 3 PROPROPERTYPERTY INFORMATION Property Address: 19770 Kenwood
Trail
City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Farmstead
Highest & Best
Use:
Single Family
Residential Dev.
Zoning: R1 Low Density
PIN/ Geo Code: 22-44900-05-282, 22-44900-00-020, 22-44900-04-160, 22-
11500-05-181 & 22-44900-04-040
Legal Description: Lot 28, Block 5, Lenihans Lots Antlers Park, part Lots F
(Antlers Park) & G, lying N. of line commencing on SW line
Lot G 552 ft SE of NW corner E.& parrellel N. line 460.9 ft,
remaining long legal retained in file
Size Acres or
Square Feet:
14.55± acres or 633,798± sf
SALES INFORMATION Grantor(s): Richard E. & Nancy L. Cross Trust & Cross Nurseries, Inc.
Grantee(s): Ryan Contracting
Date of Sale: March, 2014
Confirmed With: MLS and County information
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed Armslength
Sale Price: $ 844,520
Per Acre & SF: $ 58,043 or $1.33
DESCRIPTION - Sale located along NE side of Kenwood Trail and W. side of Ipava Avenue
- Railroad tracks across Kenwood trail and school located on other side of Ipava
Avenue
- Existing buildings on property to be removed by developer
(See aerial view on following page)
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LOW - DENSITY LAND SALE NO. 3
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEVELOPMENT LAND SALE NO. 4 PROPROPERTYPERTY INFORMATION Property Address: 4865 Pilot Knob Rd City/Township
& County:
Eagan
Dakota
Present Use at
Time of Sale:
Vacant land
Highest & Best
Use:
Single Family
Residential Dev.
Zoning: R-1, Low Density
PIN/ Geo Code: 10-03400-29-050
Legal Description: Lot 1, Block 1, Parkview Golf Club & E. ½ of the SW ¼,
except the N. 361.60 feet of the W. 760 feet thereof, Sec.34,
Township 27, Range 23
Size Acres or
Square Feet:
3.90 acres or 169,884 sf
SALES INFORMATION Grantor(s): Frank Lehman
Grantee(s): Norton Homes, LLC
Date of Sale: December, 2014
Confirmed With: MLS
Confirmed By: Evergreen land Services
Conditions of
Sale:
armslength transaction
Sale Price: $ 334,900
Per Acre & SF: $85,871 or $1.997
DESCRIPTION - Mostly open and level
- Former acreage homesite
- Close to Pilot Knob Rd
(See aerial view on following page)
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LOW - DENSITY LAND SALE NO. 4
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEVELOPMENT LAND SALE NO. 5 PROPROPERTYPERTY INFORMATION Property Address: XXXX 70th Street W City/Township
& County:
Inver Grove
Heights
Dakota
Present Use at
Time of Sale:
Vacant land
Highest & Best
Use:
Single Family
Residential Dev.
Zoning: R-1, Low Density
PIN/ Geo Code: 20-000700-26-012
Legal Description: Section 7, Twn 27, R 22, Lengthy legal on file.
Size Acres or
Square Feet:
14.77 acres or 643,381 sf
SALES INFORMATION Grantor(s): Bernice Messerich Trust
Grantee(s): Peterandrea Investments, LLC
Date of Sale: October, 2014
Confirmed With: MLS
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed armslength transaction
Sale Price: $ 1,065,000
Per Acre & SF: $ 72,106 or $1.66
DESCRIPTION - Located in Inver Grove Heights
- Generally level and open land
(See aerial view on following page)
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LOW - DENSITY LAND SALE NO. 5
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEVELOPMENT LAND SALE NO. 6 PROPROPERTYPERTY INFORMATION Property Address: 3400 Upper 149th
Street
City/Township
& County:
Rosemount
Dakota
Present Use at
Time of Sale:
Vacant land
Highest & Best
Use:
Single Family
Residential Dev.
Zoning: R3 – Medium Density
PIN/ Geo Code: 34-628580-10-020
Legal Description: Rahns 9th Addition, Block 2, Lot 1
Size Acres or
Square Feet:
1.487 acres or 64,773
SALES INFORMATION Grantor(s):
Grantee(s): St. Croix Home Buyers, Inc
Date of Sale: August, 2016
Confirmed With: MLS Information
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed armslength transaction
Sale Price: $ 200,000
Per Acre & SF: $ 134,498 or $3.08
DESCRIPTION - Mostly open and level
- Close to County Rd 42 & downtown Rosemount
(See aerial view on following page)
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MEDIUM - DENSITY LAND SALE NO. 6
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEVELOPMENT LAND SALE NO. 7 PROPROPERTYPERTY INFORMATION Property Address: XXXX Connemara
Trail
City/Township
& County:
Rosemount
Dakota
Present Use at
Time of Sale:
Vacant land
Highest & Best
Use:
Single Family
Residential Dev.
Zoning: R3 – Medium Density
PIN/ Geo Code: 34-58607-00-010
Legal Description: Outlot A, Preswick Place, 8th Addition, Sec. 22, Twn 115, R 19
Size Acres or
Square Feet:
8.81 acres or 383,763 sf
SALES INFORMATION Grantor(s): Arcon Development, Inc
Grantee(s): KRB Development, LLC
Date of Sale: July, 2015
Confirmed With: CRV and Dakota County
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Assumed armslength transaction
Sale Price: $ 558,000
Per Acre & SF: $ 63,337 or $1.45
DESCRIPTION - Irregular in shape
- Mostly level and open
- Close to Hwy 3
(See aerial view on following page)
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MEDIUM - DENSITY LAND SALE NO. 7
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEVELOPMENT LAND LISTING NO. 8 PROPROPERTYPERTY INFORMATION Property Address: XXXX Brooklyn Ln City/Township
& County:
Eagan
Dakota
Present Use at
Time of Sale:
Vacant land
Highest & Best
Use:
Single Family
Residential Dev.
Zoning: R-1, Low Density
PIN/ Geo Code: 10-03600-81-030
Legal Description: Long legal retained in file
Size Acres or
Square Feet:
3.97 acres
SALES INFORMATION Grantor(s):
Grantee(s):
Date of Sale: Current Listing
Confirmed With: MLS Information
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Current Listing
List Price: $ 314,987
Per Acre & SF: $79,341 or $1.82
DESCRIPTION - Close to Hwy 3
- Mostly level and some trees
(See aerial view on following page)
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LOW DENSITY LAND LISTING NO. 8
AERIAL FROM WASHINGTON COUNTY GIS
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COMPARABLE DEVELOPMENT LAND LISTING NO. 9 PROPROPERTYPERTY INFORMATION Property Address: 17600 Pilot Knob
Rd
City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Single Family
Residential Dev
Zoning: RM3 – Medium Density
PIN/ Geo Code: 22-01200-50-013
Legal Description: Section 12, Township 114, Range 20, long legal retained in
file
Size Acres or
Square Feet:
10.0 acres or 435,600 sf
SALES INFORMATION Grantor(s): Gaylen R. Olson
Grantee(s):
Date of Sale: Current listing
Confirmed With: MLS
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Current listing
Sale Price: $680,000
Per acre & SF: $68,000 or $1.56
DESCRIPTION - Rectangle in shape
- Close to a creek
- Close to Pilot Knob Rd
- Some trees and mostly level
(See aerial view on following page)
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MEDIUM DENSITY LAND LISTING NO. 9
AERIAL FROM DAKOTA COUNTY GIS
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COMPARABLE DEV. LAND LISTING NO. 10 PROPROPERTYPERTY INFORMATION Property Address: XXXX Dodd Blvd City/Township
& County:
Lakeville
Dakota
Present Use at
Time of Sale:
Vacant land Highest & Best
Use:
Commercial
development
Zoning: C3, General Commercial
PIN/ Geo Code: 22-17052-00-030
Legal Description: Cherry Highlands 3rd , Outlot C
Size Acres or
Square Feet:
15.5 acres or 675,180 sf
SALES INFORMATION Grantor(s): Paul O. Johnson, Bault State Bank of Fari
Grantee(s):
Date of Sale: Current Listing
Confirmed With: MLS
Confirmed By: Evergreen Land Services
Conditions of
Sale:
Current Listing
Sale Price: $ 5,063,850
Per Acre & SF: $ 326,700 or $7.50
DESCRIPTION - On the corner of Dodd Blvd and Cedar Ave.
- Irregular in shape.
- Mostly level.
- Listing is advertised per MLS as potential uses as ie: apartments, town houses, and
senior housing. Property is zoned for commercial.
(See aerial view on following page)
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HIGH - DENSITY LAND LISTING NO. 10
AERIAL FROM DAKOTA COUNTY GIS