6B, Public Hearing Proposed TIF District Resolution 2010-081, -082 & -083

Home Browse Search

B. Candition of Building Test 1. Bnilding Inspection The first step in the evaluatian process is the building inspection. After an initial walk-thru, the inspector makes a judgement whether or not a huilding "appears" to ha�e enough d�fec�s or deficiencies of sufficierzt total significance to justify substantial renovation or cl�arance. If it does, the inspector documents with notes and photographs cade and non-code deficiencies in the building. Replacement Casi The second step in �valuating a building to determine i� it is s�bstandard to a degree requiring substantial reno�ation or clearance is fa determine its replacement cost. This is the cost of cons�ructing a new structure of the sarne sc�uare footage and type on site. Replacemeni costs were researck�ed using R.S. Means Cost Works s uare foot rnodels for 2010. A replacement cost was calculated by £'irst establishing building use (office, retail, residential, etc.}, bui�ding construction type {woad, concrete, masonry, etc.), and building size to abtain the appropriate median replacement cost, which factors in the costs of constructian in Arden Hiils, Minnesota. Replacetx�ent cost includes labor, materials, and the contractor's overhead and proiit. Replacement costs do not include architec#ural fees, legal fees or other "soft" costs not directly related to consiruction acti�iti�s. Replacement cost for each building is tabulated in Appendix A. 3. Code Deficiencies The next step in evaluating a building is to deterrnine what code deficiencies exist with respect to such building. Code de�ciencies are those conditions for a building which are not in compiiance with current buildi�g codes appiicable to new buildings in the State of Minnesota. Minnesota Statutes, Sectzon 469.174, Subdivision 10{c), specifically provides that a b�ilding cannot be considerec� str�cturaliy substandard if its code de�ciencies are not at least 15 percent of the replacement cos� of the building. As a result, it was necessary to determine the extent ai code deficiencies for each building in the proposed TIF District. The evaluation was made by reviewing all available informaiion with respect to such buiIdings containe� in City Building Inspection recards and making interior and exteriar inspections of the buildings. LHB utilizes the 2007 Minnesota State Building Code as the official code for our evatuations. The Minnesota State Building Code is actually a series af provisional codes written speciiically %r Minnesota only Page 8