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<br />'... 1:. .! <br /> <br /> <br /> <br />BETTENDO RF'RO HRER ,KNOCHE <br /> <br />_INCORPORATED <br />REAL ESTATE APPRAISERS <br />. . . . . <br />July 30, 1992 <br /> <br /> <br />Mrs. Cathy Iago <br />City of Arden Hills <br />1450 West Hwy 96 <br />Arden Hills, MN 55112 <br /> <br />RE: Assessment Analysis <br />Arden Place Drainage Project <br />Arden Hills, Minnesota <br /> <br />Dear Mrs. Iago: <br /> <br />In response to your request, I am submitting a fee proposal for an <br />analysis determining the amount of benefit, if any, to specific <br />properties resulting from the Arden Place drainage project. In <br />making this proposal, I reviewed the feasibility study for the <br />project and also obtained background information from Mark Graham, <br />P.E., who prepared the study. It appears that eight properties are <br />impacted by this project. <br /> <br />. A two part analysis is involved in each of the properties. The <br />first step constitutes an analysis to ascertain whether a benefit <br />exists as a result of the project. If the benefit does exist, then <br />the second step occurs which involves an analysis to measure the <br />amount of benefit. In order to fully complete the assignment, a <br />detailed inspection of each of the properties is required together <br />with an analysis of the project as it relates to the individual <br />properties in order to determine whether a benefit does exist. If <br />such a benefit exists then a valuation analysis is required to <br />determine the amount of benefit. <br /> <br />The State of Minnesota specifies that assessments from public <br />projects shall not exceed the increase in market value resulting <br />from the project. A before and after analysis is required in order <br />to measure the amount of benefit. This necessitates a <br />determination as to the market value of each individual property <br />prior to the project, in relation to a determination of the market <br />value of each individual property after the project. The <br />difference in value will reflect the amount of benefit, if any, <br />resulting from the project. <br /> <br />Benefits resulting from storm sewer projects typically adhere to <br />land rather than improvements. The measure of benefit is reflected <br />in changes in land value. The contributory value of the <br />improvements typically remains the same in .a before and after <br />situation. <br /> <br />- ......... .. <br />SPRUCE TREE CENTRE SUITE 206 <br />1600 UNIVERSITY AVENUE <br />SAINT PAUL MINNESOTA 55104 <br />TELEPHONE 612/646 . 6114 FAX 646 . 8086 <br />