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requirernents, adoption of several internatianaI codes, and annendments to the adopted international codes. After identifying the code deficiencies in each building, we used R.S. Means Cost Warks 2010; Unit and„ Assemblv Costs to determine the cost of correcting the identified deficiencies. We were than able to compare the co�-�-ection costs with the replacement cost of each building io de�ermine if the costs for correcting code deficiencies exceed the required 15 percent threshold. Finding: Two (2) out of three (3) bUildings {67 percent} in the proposed TIF` District contained code deficiencies exceeding the 15 percent threshold required by Minnesota Statutes, Section 469.174, Subdivision 10(c). A complete Building Code and Condition Deficiency repart for each building in the proposed TIF District can be found in Appendix B of this repart. 4. System Condition De�ciencies Tf a bu�lding meeis the minimum cade deiiciency threshold under Minnesota Statutes, Section 469.174, Subdivision 10(c}, then in order for such building to be "structurally substandard" under Minnesota Statutes, Section �69.174, Subdivzsion 10(h), the building's defects or deficiencies should be of sufficient total signi�cance to j�stify "substantial renovation ar clearance." Based an this definition, LHB re-e�valuat�d each of the buildings that me# the code deficiency threshold under Minnesota Statutes, Section 469.174, Subdivisian IO(c), ta determine if the #otaI deficiencies warranted "substantial renovation ar clearance" based on the criteria we outIined above. System condition deficiencies are a measurement of defects or substantial deteriaration in site elements, structure, exteriar envelope, rnechanical and electricai components, fire protectian and emergency systems, interior partitions, ceiiings, floors and doors. The evaluatian af system condition deficiencies was made by reviewing all available information contained ir� City records, and makzng interior and exterior inspections of the buildings. LHB only identified system condition deficiencies that were visible upon our inspectio� of the building or contained in City records. We did not consider the amount of "service life" used vp for a particular component unless it was an obvious part of that component's deficiencies. After identifying the system condition deficiencies in each bui�ding, we used our pro%ssional judgment to d�termine if the list of defects or deficiencies are of sufficient tatal signiftcance to justify "substantial z-enavation or cIearance." Page 9