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<br />,." . <br /> <br /> <br />. <br /> <br />Mrs. Cathy Iago <br />July 30, 1992 <br />Page Two <br /> <br /> <br /> <br />Since the impact is measured in changes in land value, the analysis <br />could be limited to a before and after analysis of the individual <br />building sites, excluding improvements. This would save on the <br />cost of the appraisals. However, in at least one case a munici- <br />pality lost an assessment appeal by not completing a full before <br />and after including land and buildings. If I am selected for the <br />assignment, it will be necessary for me to meet with the city <br />attorney to discuss whether a complete before and after analysis on <br />each property is required or whether that analysis can be reduced <br />to a before and after on the individual sites, exclusive of <br />buildings. In either respect, I should inspect the individual <br />houses as part of the appraisal process in order to have a full <br />understanding of each property and a basis from which to make a <br />determination as to whether the improvements are affected. <br /> <br />In making a fee proposal, a range is submitted recognizing the <br />. foregoing. A full determination of the complexity of the problem <br />can not be assessed until one is in the middle of the analysis. <br />Also, guidance from the city attorney is required in determining <br />whether the measurement of benefit can be limited to a before and <br />after of land only. Based upon the foregoing, it was concluded <br />that the fee for preparing appraisal reports on each of the eight <br />properties involved, reflecting a determination of benefit and, <br />where applicable, a measure of benefit would range; <br /> <br />$3,000 to $5,000 <br /> <br />The time table to complete the assignment is presently anticipated <br />at 6-9 weeks from the date of authorization. <br /> <br />The appraisal reports will be prepared in conformity with the Code <br />of Ethics and Standards of Professional Practice of the Appraisal <br />Institute together with the Standards of Professional Practice of <br />the State of Minnesota. Enclosed is a copy of my qualifications <br />for your convenience. Thank you for considering me in this matter. <br /> <br />M truly, <br /> <br /> <br /> <br />Micha~l J. ndorf, MA:d <br />. Certi~ Federal General hppraiser <br />Minnesota License #4001398 <br />