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_ . _ _ _ B. Cond'etion of Building Test 1. Building Inspection The first step in the evaluation process is the building inspection. After an initial walk-thru, the inspector makes a judgement whether or not a building "appears" to have enough defects or deficiencies of sufficient total significance ta justify substantial renovation ar clearance. If it daes, the inspector documents with notes and photographs code and non-code def ciencies in the building. 2. Replaceme�t Cost The second step in evalua.ting a building to determine if it is substandard to a degree requiring substantial renovation or clearance is to determine i#s replacement cosi. This is the cost of constructing a new structure of the same square footage and type on site. Replacement costs were researched using R.S. _Means Cost Works square foot models for 20l 0. A replacement cost was calculated by first establishing buaIding use (office, retail, residential, etc.), building construction type (wood, concrete, masonry, etc.), and building size to abtain the appropriate median replacement cast, which factors in the costs oi constructian in Arden Hills, Minnesota. Replacement cost inc�Udes labor, materials, anc� the contractor's overhead and profit. Replacement costs do not include architectural fees, iegal fees or other "soft" costs noi directly related to construction activities. Replacement cost for each building is tabulated in Appendix A. 3. Code Deficiencies The next step in evaluating a building is to determine w�at code deficiencies exist with respect io such building. Code deficiencies are those conditions for a buiIding which are not in complian.ce with current building codes applicable to new buildings in the State oi Minnesota. Minnesota Statutes, Section 469.174, Suhdivisron 10{c), specifically provides that a building cannot be considered str�cturally substandard if its code deficiencies are not at least 15 percent of the repIacement cost of the buildit�g. As a result, it was necessary to determine the extent of code de�ciencies far each bui�ding in the proposed TIF District. The e�aluatian was made by re�ie�wing all aeailable information wiih respect to s�ach buiidings contained in City Building Ir�spection records and making interior anci exteriar inspections of the buildings. LHB utilizes the 2007 Minnesota State Building Code as tl�e official code for our evaluations. The Minnesota State Building Cade is actually a series of provisional codes written speci�ca�ly for Minnesota only Page 8