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requirements, adoption af several interinational cades, and amendments to tt�e adapted <br />interr�ational codes. <br />After identifying the code deficiencies i� each building, we �sed R.S. Means Cost <br />Works 20�0• Unit and Assembl Costs to detertnine the cast oi correcting the <br />identi£'ted defciencies. We were than able to coz�pare the correction costs with the <br />replacement cost oi each bUilding �o determine if the costs for correcting code <br />deficiencies eacceed the reyuired 15 percent threshold. <br />Fi�ding: <br />Two (2) aut of three (3) buildings (67 percent) in the proposed TIF District contained <br />cade deiiciencies exceeding the i 5 percent threshold requir�d by Minnesota Statutes, <br />Section 469.174, Suba'ivision 10(c). A cozx�plete Building Code and Condition <br />Deficiency report for each buiIding in the proposed TIF Distirict can be found in <br />Appendix B of this report. <br />4. System Condition Deficiencies <br />If a building tneets the minimum code deficiency threshold under Minnesota Statutes, <br />Section 469.174, Subdiviszon 1 p(c), then in order for such building to be "siructurally <br />substandard" under Mannesota Statutes, Section 46917�1, Subdivision 10(b), the <br />building's defects or deficiencies should be of sufficient total significance to justify <br />"substantial renovation or clearance." Based on tk�is definifiion, LHB re-e�aluated <br />each of the buildings that met the code deficiency th.reshold under Minnesota Statutes, <br />Sectron 4d9.174, Subdivision 10(c), to determine if the total deficiencies warranted <br />"substaniial renovation or clearance" based on the criteria we outIined above. <br />System condition deficiencies are a measurement of defects or substantial <br />deteriaration in siie elements, structure, exteriar envelope, mechanical and electrical <br />camponents, fire protection and ennergency systems, interiar partitions, ceilings, <br />floors and doors. <br />The evaluation of systern condition deficiencies was made by reviewing all available <br />infoz�t�aation cantained in City records, and n:�aking ir�terior and exteriar inspections of <br />the buildings. LHB only iden�ti€ied system condition de�ciencies that were visible <br />upon our inspection of the building or contained in City records. We did not consider <br />the amount of "service life" used up for a particular component unless it was an <br />obvious part of that companent's deficiencies. <br />After identifying the system candition deficiencies in each building, we used our <br />professianal judgment to determine if the list of defects or de�ciencies are of <br />sufiicient total significance to justify "sUbstantial renovation or clearance." <br />Page 9 <br />